Yesterday may have seemed quiet, but careful ears could detect the sound of up to $29 billion of municipal debt being siphoned off by calls and redemptions.

June 1 was the "big call date of the year," according to Robert W. Chamberlin, a senior vice president and supervisory municipal analyst at Dean Witter Reynolds Inc. The $29 billion estimate covers debt maturing or being called on that date, Chamberlin said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.