New Jersey’s Debt Is a Hot Commodity in Hunt for Higher Yields
- N.J. agency increased bond sale after seeing strong demand
- Buyers are hungry for yield amid lowest rates since 1960s
Buildings stand past train tracks in Newark, New Jersey.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
New Jersey’s debt is a hot commodity.
Investor demand for the New Jersey Transportation Trust Fund Authority’s bond sale on Tuesday was so strong that the agency was able to add $200 million to the $800 million offering. And it repriced the $1 billion at lower yields than initially offered, a positive for a state beset by large debt and pension costs.