-
Two mega deals recently priced with make-whole calls for bonds due in 2034 and shorter where the market does not appear "to be penalizing issuers for including an optional make whole call feature in the short maturity tax-exempt bonds," said Pat Luby, head of Municipal Strategy at CreditSights, in a report.
April 4 -
In a recently released survey by the Citizens Budget Commission, New Yorkers said they are feeling much less safe, with only 37% rating public safety in their neighborhood as excellent or good, down from 50% in 2017.
March 28 -
Congestion pricing proponents claim it will reduce gridlock, improve air quality in Manhattan and boost ridership on the MTA, which has never recovered its pre-pandemic ridership levels.
March 28 -
The onslaught of new-issuance and approaching month- and quarter-end led triple-A yields to rise up to seven basis points on the short end and as much as three to five elsewhere along the curve, despite stronger U.S. Treasuries. Short ratios rose as a result.
March 26 -
This week's new-issue calendar grows and includes some "common benchmark names like CA GO, NYC GO, and WA GO," Birch Creek strategists said.
March 25 -
The calendar is led by several high-profile deals, including $2.7 billion of GOs from California, $1.5 billion from New York City and $1.1 billion from Washington. High-yield gets another dose of unrated project finance debt from Miami Worldcenter Project tax increment revenue bonds. The Bond Buyer 30-day visible supply sits at $12.06 billion.
March 22 -
Set to be priced by Jefferies on Monday for retail investors and on Tuesday for institutions, New York City's tax-exempt general obligation bond deal is tentatively structured in four series with two subseries.
March 22 -
To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.
March 22 -
Despite several larger deals entering the primary, the vast amount of cash on hand has not allowed munis to cheapen amid UST volatility and ultra-rich ratios
March 19 -
The securities industry accounted for roughly $28.8 billion in state tax revenue and $5.4 billion in New York City tax revenue for fiscal 2023, state Comptroller Thomas DiNapoli estimated.
March 19