The 2017 spring and summer redemption season is expected to eclipse the previous record for called and maturing bond proceeds, freeing up an unprecedented amount of cash for new investment, municipal market sources said.

The three months starting in June are known for delivering the heaviest volume of called and maturing bonds in any given year. This year the annual occurrence is expected to be record-breaking, with over $100 billion of called and maturing bond proceeds — excluding coupon payments — slated to arrive into investors' accounts over the three-month span, according to proprietary data provided by municipal managers, analysts, and industry experts.

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