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Large deals were repriced to lower yields while the secondary market was lightly traded, leading to little changed triple-A yield curves and underperformance to Treasury market gains. Despite a growing calendar, the supply demand imbalance remains with much cash on the sidelines.
March 5 -
The muni market "exhibited similar themes from the past few weeks as extremely rich valuations and the upcoming unfavorable supply/demand picture have led to a measured buyer base," said Birch Creek Capital strategists in a report.
March 4 -
The city and its related issuers picked financial advisors to work on upcoming bond deals, including GO issuances, TFA deals and water authority sales.
March 4 -
The bonds are rated Aa2 by Moody's Investors Service, AA by S&P Global Ratings and Fitch Ratings and AA-plus by Kroll Bond Rating Agency. All four rating agencies have a stable outlook on the credit.
February 26 -
"People are just kind of sitting on their hands and being careful because MMD is raising yields every day and people don't know which way this is heading," said John Farawell of Roosevelt & Cross.
September 25 -
Despite looming economic and social challenges, New York City's economy has proven to be more resilient than projected, New York's comptrollers Brad Lander and Thomas DiNapoli say.
August 14 -
New York State Comptroller Thomas DiNapoli urged state agencies to do more to protect water systems from cyberattacks as Moody's Investors Service said cyber risks pose challenges to municipalities across the United States.
July 10 -
Olson, a 20-year municipal bond veteran, replaces Marjorie Henning who retired at the end of April. In his new position, he will be in charge of the Bureau of Public Finance, which manages the city's borrowing for the comptroller.
June 6 -
While fiscal 2023 and 2024 budgets remain balanced, outyear gaps increase to $4.2 billion, $6.0 billion and $7.0 billion in fiscal 2025 through 2027, respectively.
April 28 -
Mayor Eric Adams executive budget "will be released in just 51 days, giving us limited time to marshal the substantial resources we will need to stay balanced in fiscal 2023 and 2024," said OMB Director Jacques Jiha.
March 7