- Zohran Mamdani’s lead in the New York City mayor’s race over former Governor Andrew Cuomo has narrowed less than a week before Election Day, according to a Quinnipiac University poll. The poll released Wednesday shows Mamdani, the Democratic nominee, leading Cuomo among likely voters by 43% to 33%. Recently, the latest surveys indicated that the contest is tightening in its final days. We continue to monitor this race, and it is likely to have an impact on New York City’s lower-rated papers, such as the MTA, colleges, and certain Hospitals. If you are buying NY paper, it would be wise to investigate the underlying credit quality.
- If you hold Chicago BOE’s, there is a possibility they will be called, as the system is issuing 1.1B of GO bonds in two series this week with the initial yields of 5.73%. It is hard to determine what the funds will be used for; however, the coupons on the new bonds are hovering around 6% priced at a premium.
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