Sales of new municipal bonds, spurred by lower interest rates, jumped 21% in the first six months of 1991, to $74.07 billion -- the highest total ever for a first half, according to figures compiled by Securities Data Co./Bond Buyer.

The $12.63 billion increase in new-issue volume, up from $61.44 billion in the first half of 1990, resulted from strong gains in both new-money and refunding issues. New-money financing rose 19%, to $56.76 billion from $47.6 billion, while refundings jumped 25%, to $17.31 billion from $13.84 billion.

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