City of New York, NY

MTA finance director Pat McCoy said issuers need to ask if they are prepared to deal with the requirements attached to federal money.

As summer beckons, it's time for a reporters' roundtable with some of the Bond Buyer's senior staff. Yvette Shields, Karen Pierog, Keeley Webster and Thomas Nocera talk with Chip Barnett about what's hot in their regions and what municipal bond market participants should expect to see in the months ahead. (25 minutes)

The recommendation would build reserves toward a target of 16% of tax revenues in order to prevent drastic service cuts during a recession.

Investors pulled $7.270 billion from muni bond mutual funds in the week ending May 11, per ICI data, while exchange-traded funds saw $1.756 billion of inflows, the fourth week of record inflows.

On the buy-side, weakness, outflows, supply issues, and poor liquidity are making life challenging for municipal bond investors. The same could be said for issuers.

Deep-in-the-red municipal returns are not helping assuage investor concerns, creating a negative feedback loop that has yet to see a pause.

Despite compelling yields and ratios, buyers continue to be selective. Even if rates stabilize, municipal investors will likely be cautious for some time, waiting for fund outflows to abate, strategists said.

Fitch Ratings revised its outlook on the city's AA-minus rating to positive ahead of a $1.08 billion general obligation bond sale.

The Louisiana House passed a bill to limit firms that "discriminate" against the firearms industry from government business. A similar bill was vetoed last year.

Improving tax revenues allowed the mayor to increase the size of his spending proposal while keeping the budget balanced.

Panelists discuss the implications of working from home in a hybrid manner, rising crime and falling mass transit ridership, vulnerable revenue sources and the lack of affordable housing at a New York Fed event.

Davey will oversee operations for the city’s subways, buses, paratransit services and the Staten Island Railway.

More outflows from municipal bond mutual funds were reported as bid lists surpass $1 billion 22 times in 2022.

The 20% rise is higher than the city’s forecast of a 15.7% gain and this may help the Big Apple see better-than-expected income tax revenue.

New York State Comptroller Thomas DiNapoli and city Comptroller Brad Lander lauded the SEC’s proposal, saying environmental transparency is beneficial to the state and city pension plans.

The triple-A 10-year yield is above 2% on all scales, the highest since March 2020.

Next week's potential volume is slated to be $7.7 billion. The largest deal of the week comes from New York City with $891 million of tax-exempt general obligation bonds. Recent New York paper traded up Friday.

The Big Apple faces an uncertain economic future as many white-collar workers remain at home and the return to office movement takes hold only slowly.

The City Council on Wednesday began the first of a series of hearings on Mayor Eric Adams' $98.5 billion preliminary fiscal 2023 budget.

To help the city recover faster, former Lt. Gov. Richard Ravitch has proposed a dedicated state-approved revenue stream to provide additional funding for the transit system.