One of the most worrisome risks for state and local governments just got a little more manageable.
A deal to restructure $240 million of municipal bonds sold for underutilized parking garages at Yankee Stadium is on hold because of a spat over parking spaces.
Andrew Yang, the former presidential contender running for New York City mayor, says his alma mater Columbia University is going to have to pitch in to help with the city’s budget. How much money he says he can get may be a stretch.
Citigroup Inc., one of the biggest Wall Street underwriters, on Monday advised investors to avoid bonds sold by state student loan agencies, citing the risk that more graduates will need to get temporary reprieves from their debts.
The coronavirus pushed three dozen municipal-debt issues for senior living communities into default last year and another five have already missed payments in 2021, sowing distress in one of the nation’s safest bond markets.
Democrats in New York, the world’s financial capital, may finally have the right moment to resurrect the state tax on stock trades.