City of New York, NY

The top finisher in the Democratic mayoral primary wants the city to issue $70 billion of additional affordable housing bonds. 

To borrow an additional $70 billion, Mamdani would need state approval, said Howard Cure, director of municipal bond research at Evercore Wealth Management.

City comptroller Brad Lander says there's no legal mechanism to issue bitcoin bonds, whatever Mayor Eric Adams may have told a cryptocurrency conference.

The FHWA said it would start withholding project funds from Manhattan next month and later expand to other areas if the state refuses to halt its tolling program.

New York's capital needs mean the city cannot afford to be picky about market timing for bond deals, said Jay Olson, deputy comptroller for public finance. 

The city's Independent Budget Office projects New York's operating surplus as a percentage of tax revenue will fall to 4.8% at the end of the fiscal year.

The New York City Transitional Finance Authority plans to make an impact on the municipal market this month with $1.8 billion of bond sales.

The amount of toll revenue collected between the start date and Jan. 31 is in line with budgeted projections, Jai Patel, MTA's deputy chief financial officer, said.

The DOT cited the use of the tolls for transit as one of its reasons to terminate.

The scandals surrounding New York City Mayor Eric Adams may lead to his removal from office, but the city's bonds are still insulated from the fallout, analysts say.