Wall of cash could mean muni rally

|By:, SA News Editor

Issuers have scheduled $11.7B of long-term sales over the next month - the busiest pace in three months - and it's a good thing as investors are about to get the most cash ($104B) in two years from June through August from debt payments, according to JPMorgan's Peter DeGroot.

The funds received will exceed issuance by about $23B over those months, according to DeGroot, helping to extend munis' best first half rally since 2009.

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