The municipal bond market’s current dynamics — scarce supply, low rates, tight spreads and a stable credit landscape — means issuers are enjoying one of the strongest markets in modern history. … The level of demand is likely to remain as a wave of muni bonds are set to come due in the next five years, Fabian said. Roughly 22% of all outstanding tax-exempt debt will mature or be called by the end of 2024, he said. That’s roughly $800 billion of “reinvestment pressure.”
Source: Bond Buyer
