Long-term municipal issuance rose about 1.2% in 2021 to $460.6 billion.
New cases of the virus have forced an about-face that has people on edge.
Municipal issuers plan to power ahead with $16.6 billion of sales in the coming month.
Early results showed more bond measures passing than failing, but many of the races were tight.
Long-maturity muni bonds have reached their cheapest levels as demand for tax-free debt fades.
Issuance of so-called prepaid gas bonds have jumped to some $6.5 billion this year.
Hospitals are pulling back municipal debt issuance in the midst of the ongoing Covid-19 pandemic.
As politicians jockey over whose states performed best, it seems that the entire country fared worse than it should have.
States and cities have turned to the municipal-bond market to soften the hit of the pandemic.
The volume of taxable municipal-debt sales more than doubled last year to about $140 billion.
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