| Government Securities Prices | 10-year: 99 11/32 to yield 3.70, unch 30-year: 99 27/32 to yield 4.63, down 4/32 |
|---|---|
| Municipal Bond Index | 114 4/32, unch |
| The Bond Buyer's 30-Day Visible Supply (as of 03/16) | Total: $10.274 billion, up $992.6 million Competitive: $3.143 billion, up $133.9 million Negotiated: $7.131 billion, up $858.7 million |
| The MuniCenter List | Offering total: $11.223 billion, up $1.322 billion |
While the market navigates a surge in supply, another focus area has become elections and their potential to shift market demand, as several regional election results will likely garner greater attention over the next few months, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
City and state law mean it's unlikely that Mamdani will be able to enact the parts of his agenda that would have major impacts on the city's credit.
An uncertain financial future partially due to federal government downsizing is compounding with nearly $6 billion of unfunded capital needs that will require Washington D.C. to lean on asset management and its strong credit rating to overcome the challenges.
The ruling comes as the municipal bond market closely watches the administration's effort to control federal infrastructure spending.
The federal budget bill lowered the percentage of private-activity bonds needed for affordable housing projects to qualify for 4% tax credits, but it hasn't been the boon expected.
Municipal market professionals aren't confident that state and local governments will invest in resilient infrastructure over the next five years.
