Issuance in the public finance sector is likely to contract in 2020, S&P Research says.
Municipal bond issuance was $67.88 billion after the first two months of 2020 and was on pace to easily eclipse the $400 billion mark — then COVID-19 completely turned the market upside down.
Taxable bonds and COVID-19 are two of the main catalysts that helped February municipal bond volume ascend to its highest level since at least 1986.