Investors in NYC’s municipal debt are starting to lose patience with Zohran Mamdani
Mayor Zohran Mamdani’s luck in the municipal bond market appears to be running out, On The Money has learned. After stabilizing or increasing a bit in the last couple of months, prices of New York City municipal bonds this month took a hit, with the “yield” – or return demanded by investors to compensate for various types of risk – spiking noticeably between July 3 and July 10, the latest available numbers show.
Reported by 1 outlet — New York Post. See all sources ↓
Mayor Zohran Mamdani’s luck in the municipal bond market appears to be running out, On The Money has learned. After stabilizing or increasing a bit in the last couple of months, prices of New York City municipal bonds this month took a hit, with the “yield” – or return demanded by investors to compensate for various types of risk – spiking noticeably between July 3 and July 10, the latest available numbers show. The yield on a 10-year GO bond jumped to 3.34% from 3.28%, while the yield on a 10-year bond from what’s known as the “transitional finance authority” jumped 10 basis points – or hundredths of a percentage point, in bond-market speak – to 3.26%. Note that bond prices move in the opposite direction of yields.
Read the full report at New York Post ↗
Why it matters
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- What's the story?
- Mayor Zohran Mamdani’s luck in the municipal bond market appears to be running out, On The Money has learned. After stabilizing or increasing a bit in the last couple of months, prices of New York City municipal bonds this month took a hit, with the “yield” – or return demanded by investors to compensate for various types of risk – spiking noticeably between July 3 and July 10, the latest available numbers show.
- How widely is it covered?
- 1 outlet, average source rating 5.0/10.
- When was it last updated?
- 6m ago.
How outlets are framing the same story
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Investors in NYC’s municipal debt are starting to lose patience with Zohran Mamdani
Sources1TypeCoverageNew York Post