The supply slump that’s fueling the best run for municipal debt since 2009 is poised to end next year as governments ramp up borrowing for long-delayed projects from water to transportation, Citigroup Inc. predicts.
Citigroup Inc. lowered its estimate of U.S. municipal bond issuance this year to $240 billion from $275 billion a month ago, in part because fiscal austerity is leading local governments to borrow less.
Morgan Stanley Smith Barney fired George Friedlander , a municipal bond strategist for more than three decades, as it integrates two formerly separate firms, according to a person familiar with the matter.
Fort Worth, Texas, avoided voters when it sold $86 million of bonds last year to finance a police and fire facility. An El Paso hospital system plans new clinics using $162 million of debt taxpayers won’t have a say on.