Muni-Bond Buyers Join Commuters in Avoiding Public Transportation
- Barclays says to avoid transit debt amid weak ridership
- Office occupancy rates remain well below pre-Covid levels
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It’s not just rank and file commuters who are eschewing trains and buses -- so are municipal-bond buyers.
Barclays strategists Clare Pickering, Mayur Patel and Mikhail Foux advised clients to steer clear of bonds issued by public transit agencies, even as they touted some airport and toll road debt. That’s because of the systems’ weak ridership and the uncertainty of it reviving to pre-pandemic levels.