The Bond Buyer: August issuance down 23% year-over-year
08/31/2022
Historically, August tends to be a pretty strong month for issuance, and that trend continues even if issuance is down year-over-year, said Tom Kozlik, head of municipal research and analytics at HilltopSecurities. This year's drop, to a level below the 10-year average of $35.861 billion, is driven by the Fed's most recent rate hikes.