U.S. Local-Government Debt Declines for First Time Since 1996, Fed Reports

Fed
Bloomberg
William Selway
March 9, 2012
5
Average: 5 (1 vote)
Your rating: None

U.S. state and local governments reduced their debts last year for the first time since 1996 as political aversion to borrowing cut supply of municipal bonds and fueled a market rally.  Such debt dropped by almost 2 percent last year, the Federal Reserve said in a quarterly report. The decline helped shrink the market for U.S. municipal securities to $3.74 trillion at the end of December from $3.8 trillion a year earlier, the figures show.

Share this SparkAction Link: click here to shorten
copy http://sparkaction.org/content/us-local-government-debt-declines-first-ti
0 Comments
The content of this field is kept private and will not be shown publicly.

connect

get weekly updates

Spark Tweets