Northeast

New York’s Hudson Yards development on Manhattan’s West Side was able to cover its debt service obligations despite the effects of the COVID-19 pandemic.

Municipals have mostly held steady as bid-wanteds have risen, but so have yields and ratios, making for a more satisfactory range for investors getting into the market at these new higher levels.

New York's governor leaned on the Port Authority to pause the LaGuardia project amid wider debate about regional infrastructure.

The pandemic exposed weaknesses in the old ways of doing things, he said during a virtual Citizens Budget Commission awards presentation in New York.

While move-outs still outpace move-ins, the rate at which people are leaving has slowed and returned to near pre-pandemic patterns. A return by workers to offices is also rising, but occupancy in the city remains lower than almost all major metropolitan areas in the U.S. except for San Jose and San Francisco in California.

ICI reported $704 million of inflows, a $1.1 billion drop from the week prior, bringing the total to $76 billion year to date.

The firm’s distribution capabilities across major and mid-size institutional accounts, professionally managed retail accounts, and high net worth individual accounts is a throwback to founder Archibald Bullock Roosevelt’s vision.

Connecticut and New York are the first state and city, respectively, to implement such savings programs.

A $430 million collaborative transaction featured the university, two asset management firms, and the New Jersey Educational Facilities Authority.

Ratios have moved into a higher, more favorable range, especially in the belly of the curve. The municipal calendar is building, led by taxables and refundings, after they dropped significantly in September.