Bond dealers expect 2014 to be the second-worst year for municipal issuance in a decade, and some predict the lowest volume since 2000, as the Federal Reserve's tapering program pushes interest rates higher.
Gross new issue volume this year will total $296 billion, down 10% from $330 billion in 2013, according to the median estimate of seven leading municipal bond underwriters. That would rival 2011's volume of $287 billion for the lowest yearly issuance since 2002.
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