City of New York, NY

Budget watchdogs and others say the city must do more than just muddle through.

They cite coalition building, learning from past mistakes, project planning and effective outreach during the pandemic.

Eric Enderlin, president of the New York City Housing Development Corp., discusses the agency's programs and bond activity, its work with NYCHA on Section 8 conversion and prospects for change at the federal level. Paul Burton hosts. (18 minutes)

Paltry supply will force the secondary to handle the rest of 2020; New York City taxable general obligation bonds trade up by nearly 20 basis points on intermediate bonds.

Its $17 billion operating plan projects $4.5 billion in Washington assistance next year while sidestepping — for now — doomsday service cuts and layoffs.

ICI reported another $2.3 billion of inflows, new deals continue the march to lower yields and benchmarks rose a basis point seven years and out for the first time since the beginning of December.

It has become apparent that even more creativity will be necessary to pass legislation in the upcoming Congress. The only problem is we do not have the luxury of time.

Munis firmed Friday, only the second time in December they weren't flat, and more than a few participants are waiting on yields to rise before getting involved, particularly given the rich muni/treasury ratios and low absolute yields.

Bid list volume is trending higher into the end of the year, but its share as measured against overall high demand does not pose much of a threat, analysts say. Refinitiv Lipper reports $992 million of inflows.

Conduit issuer Trust for Cultural Resources for the City of New York will issue the $77 million green transaction.

Predictably, the rating agency cited COVID-19 effects in its downgrade to AA-minus from AA.

The outlook revision to New York's AA GO bond rating marks the latest hit to a city coping with a rise in COVID-19 cases and financial uncertainties.

The Center for an Urban Future presents project ideas for coastal resilience and renewable energy.

A heavier calendar still will not fulfill the $20 billion-plus of December redemptions. Muni/UST 10-year ratios fell to 74% as the UST 10-year came closer to 1.00%.

Uncertainties loom as Mayor Bill de Blasio’s budget team scrambles to craft the balanced fiscal 2022 spending plan he must reveal by late January.

He was remembered for an evenhanded persona amid a tumultuous term from 1990 to 1993.

New York's mayor says the budget for the 2021 fiscal year is balanced despite the coronavirus impacts.

MTA officials revealed dark budget-and-service cut scenarios and Mayor Bill de Blasio closed in-person public schools, actions likely to ripple through the city's economy.

Comptroller Stringer said Mayor de Blasio can present his updated Financial Plan with a path to a balanced budget for fiscal 2022 without cuts to essential services, layoffs of city workers, or borrowing to support operating expenses.

Neal Zuckerman, a New York MTA board member, tells The Bond Buyer's Paul Burton how takeaways from that era relate to today's transit funding crisis. "History doesn't repeat itself, but it rhymes." (24 minutes). Recorded Oct. 30.