Fitch Ratings just released its survey of big investors’ views of the future of various debt markets “going forward.”
Of the insurance companies, pension and hedge funds, and other asset managers that responded, 12 percent said that the tax-exempt muni bond market would “deteriorate significantly,” while another 51 percent said that it would “deteriorate somewhat.” Only 17 percent saw significant or even some improvement in the cards, while 20 percent expected no change.
If these investors are correct (which is not assured!), this news is bad for cities, towns, and states.
Municipal issuers would face higher borrowing costs, perhaps much higher — another reason for them to use their federal stimulus funds on wise capital projects.
You may also like
Despite Lingering Shortages, New York’s Health-Care Workforce Is Bigger Than Ever
The state's health-care workforce is recovering unevenly from the pandemic, with persistently lower employment levels in some areas and robust growth in others.
This mixed pattern c Read More
High Taxes Aren’t a Problem, Supporters of High Taxes Say
A declaring "no statistically significant evidence of tax migration in New York" and finding "high earners’ migration rates returned to pre-Covid levels" during 2022 has a glaring problem: It relies heavily on an almost microscopic sample size of self- Read More
The Wacky Math of New York’s Essential Plan
Thanks to an absurdly wasteful federal law, New York's Essential Plan is expected to continue running billion-dollar surpluses even as state officials more than double its spending over the next several years.
Read More
NY 2nd in the Nation for Homeschooling Growth
A Washington Post analysis of homeschooling trends revealed that families in New York have flocked to home education at rates Read More
Don’t Tell The Grownups: NY Still Hiding State Test Scores
State education officials are refusing to release the results of federally required assessments in grades 3 through 8, deliberately keeping parents and taxpayers in the dark—not only about how New York’s public schools performed, but also about how that performance was measured. Read More
In a Tight Budget Year, New York’s Hospital Lobby Shoots for the Moon
As Governor Hochul calls for spending restraint next year, influential hospital lobbyists are pushing what could be the costliest budget request ever floated in Albany.
In a , the G Read More
What You Should Know: NY’s changing graduation requirements
Months after lowering the scores to pass state assessment exams, New York education officials are considering eliminating the Regents diploma. Read More
Putting the Mission in Hochul’s Health Commission
Last week Governor Hochul answered one big question about her Commission on the Future of Health Care – the names of its members – but left a fundamental mystery unresolved:
W Read More
Enjoying our work? Sign up for email alerts on our latest news and research.