Hudson Yards rides upgrades into $452 million muni bond sale
New York’s Hudson Yards development on Manhattan’s West Side was able to cover its debt service obligations despite the effects of the COVID-19 pandemic.
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New York’s Hudson Yards development on Manhattan’s West Side was able to cover its debt service obligations despite the effects of the COVID-19 pandemic.
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Muni yields rose another five basis points on the 10- and 30-year, bringing the total cuts to scales to 18 and 17 basis points, respectively, from Tuesday as the asset class moved closer to UST movements after lagging that market since the start of the year.
With the U.S. Treasury sell off, municipal to UST ratios fell below 55% in 10-years.
Rich ratios focus buyers' eyes on a primary market that simply doesn't have enough supply to keep up with demand.