Prior to the great recession approximately half of
the municipal bonds outstanding were insured and during that time insured bonds were more in demand than un-insured bonds.
Liquidity: Due to the large number of U.S. municipal bond issuers and the sheer number of
municipal bonds outstanding the depth of liquidity for U.S. municipal bonds has been a factor impacting the market for decades.
Not exact matches
The New York State Tobacco Settlement Financing Corporation (TSFC), a subsidiary of the State of New York
Municipal Bond Bank Agency, at a meeting of its Board of Directors this month authorized the issuance of economic refunding
bonds (the «Refunding Bonds») to redeem at par certain of its outstanding b
bonds (the «Refunding
Bonds») to redeem at par certain of its outstanding b
Bonds») to redeem at par certain of its
outstanding bondsbonds.
But with more than 1.5 million individual
bonds in the
municipal market alone, 167 times the number of stocks listed on the major exchanges, it wouldn't be possible for newspapers to list every
bond outstanding in the combined debt markets.
About 30 % of all
outstanding municipal bonds are held by individuals.
The
bonds tracked by the S&P
Municipal Bond Puerto Rico Index -LRB--8.22 % QTD) have been in the focus of the mainstream media this week following public statements from their governor that the island territory can not meet their USD 72 billion in
outstanding debt obligations.
While revenue
bonds have a larger foot print by par amount
outstanding in the
municipal bond market, general obligation
bonds remain an integral component of the financing of infrastructure.