Higher federal taxes = cheaper muni bond debt? NY Torch

The analysts at Municipal Market Advisors think that should Sen. Barack Obama win tonight, President Obama's planned income-tax hike on individual households earning over $250k could push up demand for tax-exempt municipal bonds. (more…)...

The new muni bond “normal”? NY Torch

As suspected and reported anecdotally, municipal-bond issuance fell off the charts in September and October. Municipal Market Advisors, in its weekly outlook today, notes that such bond issuance was 54 percent below last year's levels for September a...

Take the A train – updated NY Torch

Update: The Times reports that the MTA put off a planned debt issue Tuesday because of the still-inhospitable capital markets. Ohio and Hawaii did the same. The good news is that despite increasing pressure on both revenues and expenses, Standard and...

Take the A train – updated by Nicole Gelinas | | NY Torch

The good news is that despite increasing pressure on both revenues and expenses, Standard and Poor’s has affirmed the Metropolitan Transportation Authority’s “A” rating, with a stable outlook.

Testing the muni market NY Torch

Ohio sold $240 million worth of long-term municipal bonds yesterday. The bonds carried an annual yield of 5.21 percent, 18 percent higher than last year. Ohio's long-term general-obligation credit is rated two notches above New York State's, which ...

What happens in CA … NY Torch

California may have to ask the federal government for a $7 billion loan by the end of the month just to pay for basic services like police and firefighting, Gov. Arnold Schwarzenegger warned last Thursday. New York City readers may have shuddered, as...

New York’s credit crunch, squared NY Torch

New York is twice impacted by the collapsing world of complex finance: first for the obvious reason and second because in recent years, it has structured much of its own $54 billion in debt in a way that makes the city more acutely vulnerable to int...

Albany’s ‘Debt’-End by E.J. McMahon | | New York Post

New York City has finally wriggled off the hook for what's left of that ‘70s debt. Under last week's ruling by the state's highest court, $2 billion the city was obligated to pay the Municipal Assistance Corp. (MAC) over the next four years will be transformed into roughly $5 billion in state payments to yet another financing entity over the next 30 years.