TITLE

New York City's $950M GO Sale Pushed Back a Week

AUTHOR(S)
Johnson, Matthew
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/1/2004, Vol. 350 Issue 32020, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that retail investors are expected to turnout in big numbers for New York City's $950 million general obligation bond sale, the city's final GO offering of 2004. Many traders expect strong investor interest in the GO bonds because New York City paper has generated higher yields even as spreads have narrowed over the past two years. as the city has gradually recovered from the terrorist attacks on September 11, 2001. Several New York fund managers agreed that three key factors have allowed New York City to improve its fiscal picture, which ultimately translated into higher yields and lower spreads for the city's GO bonds.
ACCESSION #
15256519

 

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