New Yorkers Can’t Get Enough Empire State Municipal Bonds: ChartBy
New York municipal bonds are yielding less than top-rated benchmark securities for the first time in almost two years, Bloomberg data show. An index of Empire State debt yields 1.47 percent, or 1.2 basis points less than the benchmark 10-year securities. The strength of New York’s economy, combined with the lure of the exemption from federal, state and local taxes makes them irresistible to high-income earners during a period of moderate supply, according to Howard Cure of Evercore Wealth Management. “You have to feed the beast,” he added.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Getting a Dog May Save Your Life, Especially If You’re Single
- World’s Biggest Wealth Fund Wants Out of Oil and Gas
- The Questionable Math Behind Manafort’s Extravagant Home Renovations