Fed data muddle the picture of how BAB program is working

12/10/2010 | New York Times (tiered subscription model), The

Data show foreign investment in the municipal bond market has reached a record-setting level, with the surge widely credited to increasing demand for Build America Bonds. As lawmakers debate whether to continue the program, the Federal Reserve has published information on foreign holdings of muni securities, revising quarterly figures from mid-2009 forward. The information does not show increasing foreign interest in the debt, clouding the picture of how the program is working.

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New York Times (tiered subscription model), The