The Chase for Spring Paper Is On

Spring is in the air — and for muni investors that means the hunt is on to replace paper that will mature in June and July when more than $70 billion in coupon payments and proceeds from called and maturing bonds hits their accounts. Known as the two largest months for reinvestment, this year’s spring rollover season will be no different than previous years in terms of the heavy demand that will be chasing new paper, two municipal experts said. An estimated $49 billion of redemptions are slated for June 1, with another $35.48 billion on July 1, according to Interactive Data as of May 8.

Bond Buyer

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