Thomson ReutersNovember 20, 2013 03:23
By Edward Krudy
NEW YORK (Reuters) - Investors in New York City's debt have had it good. Two decades of prudent fiscal management have pushed its bond prices higher, driven its borrowing costs lower, and the city's economy has flourished despite a fiscal crisis, the lingering aftermath of September 11, 2001 and, more recently, Superstorm Sandy.
Now the election of the city's first Democratic mayor in 20 years, who is promising to take the city in a new direction, has made investors sit up and take notice.