Top 10 New York Municipal Bonds for Sale
List of New York Municipal Bonds for Sale
This selection of top new york municipal bonds for sale today uses AI to address various aspects such as issuer reputation, investment potential, and the significance of the issuing entities. These bonds are distinguished by their top-tier BondView ratings and credit assessments, which can indicate low default potential and robust fiscal health. The report aims to guide investors in making more informed decisions.
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| CUSIP | Name | Quantity Available | Maturity Date | Yield to Worst | Coupon | Insured | Asking Price | Bondview Estimated Price | Rich or Cheap | Bondview Rating | BV Credit Score | Funds |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 119677MQ2 | CITY OF BUFFALO, NEW YORK GENERAL IMPROVEMENT SERIAL BONDS – 2016A (NY) | 15 | 04/01/2025 | 2.71% | 5% | No | $101.25 | $100.87 | 0.38% more expensive | 5 | 8 | 1 |
| 61075TLV8 | MONROE CNTY N Y INDL DEV CORP UNIV ROCHESTER PROJ-SER A | 5 | 07/01/2025 | 2.67% | 5% | No | $101.84 | $101.86 | 0.02% less expensive | 5 | 8 | 1 |
| 05620PNY5 | BABYLON N Y REF-PUB IMPT-SER B | 75 | 04/01/2025 | 2.62% | 5% | No | $101.3 | $106.87 | 5.21% less expensive | 5 | 10 | 0 |
| 07133AJP8 | BATTERY PK CITY AUTH N Y REV SR-SER B | 575 | 11/01/2024 | 2.61% | 5% | No | $100.33 | $100.38 | 0.05% less expensive | 5 | 10 | 2 |
| 29509PKW8 | ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY SCHOOL FACILITY REFUNDING REVENUE BONDS, (CITY SCHOOL DISTRICT OF THE CITY OF BUFFALO PROJECT), SERIES 2016A | 20 | 05/01/2025 | 2.60% | 5% | No | $101.51 | $101.48 | 0.03% more expensive | 5 | 9 | 1 |
| 162897HQ8 | CHEEKTOWAGA N Y CENT SCH DIST | 110 | 04/15/2025 | 2.49% | 5% | No | $101.47 | $101.38 | 0.08% more expensive | 5 | 8 | 0 |
| 219417RG9 | CITY SCHOOL DISTRICT OF THE CITY OF CORNING STEUBEN, SCHUYLER AND CHEMUNG COUNTIES, NEW YORK SCHOOL DISTRICT SERIAL BONDS - 2016 (NY) | 25 | 06/15/2025 | 2.49% | 5% | No | $101.88 | $101.76 | 0.12% more expensive | 5 | 8 | 0 |
| 61075TQJ0 | MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION REVENUE BONDS (UNIVERSITY OF ROCHESTER PROJECT), SERIES 2017B (NY) | 2 | 07/01/2025 | 2.47% | 5% | No | $102 | $101.71 | 0.29% more expensive | 5 | 8 | 1 |
| 496602PP2 | KINGSTON N Y CITY SCH DIST | 240 | 06/15/2025 | 2.44% | 5% | No | $101.92 | $101.63 | 0.28% more expensive | 5 | 8 | 0 |
| 114727WC0 | BROOME CNTY N Y PUB IMPT-SER A | 300 | 04/15/2025 | 2.41% | 4% | No | $100.93 | $100.83 | 0.10% more expensive | 5 | 8 | 0 |
Last Update: September 11, 2024
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Why Invest in New York Municipal Bonds
New York municipal bonds offer a stable and attractive investment option, especially for those seeking tax-exempt income. These bonds are generally issued by various state and local government entities in New York to finance public projects. Investors benefit from consistent returns, reduced risk, and potential tax advantages. Furthermore, in today’s low-interest-rate environment, municipal bonds have become a go-to option for conservative investors.
In this article, we will examine the key factors to consider when investing in New York municipal bonds, including yield analysis, credit quality, pricing, and overall investment potential. We’ll also highlight some of the top New York municipal bonds for sale, providing a detailed breakdown of their current performance.
Yield Analysis
Municipal bonds in New York currently offer competitive yields, making them particularly attractive for investors focused on income stability.
| Yield to Worst | Coupon | BV Credit Score | Time to Maturity | Price Difference | |
|---|---|---|---|---|---|
| Mean | 0.02551 | 0.049 | 8.5 | 0.615742642 | 0.00656 |
| Min | 0.0241 | 0.04 | 8 | 0.1368925394 | 0.0002 |
| Max | 0.0271 | 0.05 | 10 | 0.7994524298 | 0.0521 |
The average yield to worst for these bonds is 2.55%, ranging from 2.41% to 2.71%. This yield is particularly attractive for municipal bonds in New York, considering the current economic climate. Most of these bonds have a coupon rate of 4.9%, which is higher than the yield to worst, indicating they are trading at a premium.
Credit Quality of New York Municipal Bonds
Investors seeking secure options in New York municipal bonds should look closely at the BV Credit Scores. These scores provide a clear indication of credit quality, with higher scores reflecting a lower risk of default. In our analysis, BV Credit Scores range from 8 to 10, with an average score of 8.5, demonstrating high credit quality overall.
The highest-rated bonds (score of 10) are:
- BABYLON N Y REF-PUB IMPT-SER B (CUSIP: 05620PNY5)
- BATTERY PK CITY AUTH N Y REV SR-SER B (CUSIP: 07133AJP8)
Short-Term Maturity Profiles of New York Municipal Bonds
New York municipal bonds also offer short-term maturities, which minimize exposure to interest rate fluctuations and reinvestment risks. The average time to maturity is 0.62 years (around 7.5 months), with bonds maturing between 0.14 and 0.80 years.
This short maturity profile reduces both interest rate and reinvestment risk, which is particularly important for risk-averse investors seeking to protect their portfolios against rate changes.
Municipal Bond Pricing: Finding Undervalued Opportunities
The average price difference is 0.66%, ranging from 0.02% less expensive to 5.21% less expensive. While many New York municipal bonds are slightly overpriced, there are a few undervalued opportunities available. For example, the Babylon N Y REF-PUB IMPT-SER B bond is priced 5.21% below its Bondview estimated price, making it a potentially attractive buy for investors.
Yield Spread Analysis of Top New York Municipal Bonds for Sale
Yield spread analysis helps investors identify which bonds offer the best value in terms of additional yield relative to others in the set. The table below shows the yield spread for each bond, based on the lowest-yielding bond in the analysis.
| CUSIP | Yield to Worst | Yield Spread | BV Credit Score |
|---|---|---|---|
| 119677MQ2 | 0.0271 | 0.003 | 8 |
| 61075TLV8 | 0.0267 | 0.0026 | 8 |
| 05620PNY5 | 0.0262 | 0.0021 | 10 |
| 07133AJP8 | 0.0261 | 0.002 | 10 |
| 29509PKW8 | 0.026 | 0.0019 | 9 |
| 162897HQ8 | 0.0249 | 0.0008 | 8 |
| 219417RG9 | 0.0249 | 0.0008 | 8 |
| 61075TQJ0 | 0.0247 | 0.0006 | 8 |
| 496602PP2 | 0.0244 | 0.0003 | 8 |
| 114727WC0 | 0.0241 | 0 | 8 |
The CITY OF BUFFALO bond (CUSIP: 119677MQ2) offers the highest yield spread at 0.30%, making it one of the top choices for yield-conscious investors looking at New York municipal bonds for sale. While the BROOME CNTY N Y bond (CUSIP: 114727WC0) has the lowest yield.
Risk-Return Profile:
This chart shows the relationship between credit quality (BV Credit Score) and yield for these new york municipal bonds. The size of each point represents the quantity available. Ideally, investors would look for bonds in the upper-right quadrant, which offer higher yields with better credit quality.
Yield Curve and Credit Quality of NY Municipal Bonds:
This chart displays the relationship between time to maturity and yield, with the color indicating credit quality. There’s a slight upward slope, suggesting that longer-term bonds offer slightly higher yields, which is typical for a normal yield curve.
Investment Considerations for New York Municipal Bonds in 2024
Investing in New York municipal bonds offers several benefits, especially for those in higher tax brackets:
- Tax Benefits: The tax-exempt status of municipal bonds makes them particularly appealing for investors seeking to reduce their tax liabilities.
- Safety: These bonds generally have high credit quality, reducing the risk of default.
- Diversification: New York municipal bonds represent different regions and sectors, providing some diversification benefits.
- Liquidity: While municipal bonds can be less liquid, their short-term nature helps enhance liquidity in many cases.
However, there are some risks to consider:
- Reinvestment Risk: Short maturities may pose reinvestment risk if interest rates drop.
- Premium Prices: Many bonds are trading at a premium, which could result in capital loss if held to maturity.
In conclusion, New York municipal bonds offer a compelling mix of yield, safety, and tax advantages, making them ideal for conservative investors. However, potential buyers should carefully consider their financial situation and risk tolerance before committing. Diversifying across multiple bonds or exploring municipal bond funds may also be prudent strategies for 2024.
New York Municipal Bonds: Issuer Information
City of Buffalo, New York
Issuer Overview: The City of Buffalo is the second-largest city in New York State. In 2016, Buffalo issued General Improvement Serial Bonds to finance essential city-wide capital projects. Notable allocations included $6 million for city improvements and $3 million for city court rehabilitation.
Financial Information: As of 2016, the city had $228 million in outstanding general obligation (GO) debt. Buffalo demonstrated moderate financial growth, maintaining solid reserves and liquidity.
Investment Potential: These municipal bonds hold an A1 rating from Moody’s, reflecting Buffalo’s satisfactory liquidity and reserves. Despite challenges from its below-average demographic profile and a high debt burden, Buffalo’s growing property values have increased its revenue-raising potential, making these bonds a stable choice for investors looking to buy New York municipal bonds for sale.
Monroe County Industrial Development Corporation
Issuer Overview: Monroe County Industrial Development Corporation, a not-for-profit development corporation in Monroe County, NY, issued bonds for University of Rochester projects, including the Series 2017B Revenue Bonds.
Financial Information: As of December 31, 2023, the corporation reported $2.25 million in cash and $1.63 million in U.S. Treasury investments, along with $184,846 in loans receivable.
Investment Potential: These municipal bonds are backed by the University of Rochester, which is known for its strong credit rating. Investors seeking New York municipal bonds for sale should consider these bonds, as they support economic development and offer a solid, low-risk investment opportunity.
Issuer Overview: Babylon is a town in Suffolk County, NY. The Public Improvement Refunding Bonds Series B were issued to refinance debt for public infrastructure projects.
Financial Information: While specific financial details aren’t provided, municipal bonds from established New York towns like Babylon typically offer stable, tax-exempt income.
Investment Potential: Babylon’s municipal bonds for sale can provide investors with tax-exempt returns, a crucial benefit for those looking for stability and steady income in their portfolios.
Battery Park City Authority, New York
Issuer Overview: The Battery Park City Authority is a public benefit corporation responsible for the development and maintenance of Manhattan’s lower west side. The Revenue Senior Series B bonds were issued to support ongoing development and maintenance in the area.
Financial Information: For the fiscal year ending October 31, 2022, the Authority reported $270.9 million in PILOT (Payment in Lieu of Taxes) revenue, accounting for 68% of its operating income.
Investment Potential: With backing from property revenue in Battery Park City, these New York municipal bonds provide a reliable income stream. Investors considering New York municipal bonds for sale should explore these bonds for their stable revenue base and potential for steady returns.
Erie County Industrial Development Agency
Issuer Overview: This authority finances the water and sewer systems of New York City.
Financial Information: Fitch Ratings provides ongoing credit analysis for this issuer, suggesting a stable financial position.
Investment Potential: Given the essential nature of water and sewer services and the authority’s strong credit ratings, these bonds are considered a safe investment.
64972GUQ5 and 64972GVU5 (New York City Municipal Water Finance Authority): These bonds were most likely issued to fund improvements, maintenance, or expansion of New York City’s water and sewer systems.
Issuer Overview: Cheektowaga Central School District serves Cheektowaga, NY, and issues bonds to finance school capital improvements.
Financial Information: Although detailed financial data isn’t provided, the district primarily relies on property taxes and state aid for funding.
Investment Potential: School district bonds are generally considered stable investments, backed by the district’s ability to levy taxes. Investors looking for New York municipal bonds for sale should evaluate the financial health of school districts like Cheektowaga for long-term stability.
Issuer Overview: The City School District of Corning serves areas within Steuben, Schuyler, and Chemung Counties, NY. The 2016 School District Serial Bonds were issued for capital projects and debt refinancing.
Financial Information: As of the 2022-2023 school year, Corning reported a solid graduation rate of 86%.
Investment Potential: Backed by the district’s tax levy, these New York municipal bonds are a safe option for investors seeking reliable returns. A strong graduation rate could indicate stable management, further enhancing the investment appeal.
Issuer Overview: Kingston City School District recently completed a $137.5 million capital project to renovate Kingston High School, involving both new construction and renovations.
Financial Information: The project included over 400,000 square feet of improvements. While specific financials aren’t available, the district’s commitment to long-term facility improvements suggests potential for bondholder stability.
Investment Potential: The Kingston City School District bonds may appeal to investors seeking stable, tax-exempt income from New York municipal bonds. However, investors should also consider the district’s significant debt load.
Issuer Overview: Broome County issued Public Improvement Series A bonds to finance county infrastructure projects.
Financial Information: In 2023, the county issued over $28 million in public improvement serial bonds for government-related activities.
Investment Potential: Broome County’s municipal bonds offer a stable investment backed by the county’s ability to levy taxes. Investors looking for secure New York municipal bonds for sale will find these bonds to be a solid addition to their portfolios, provided they assess the county’s overall financial health.
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This list is updated every 2 months.
This list of New York municipal bonds for sale is current as of September 11, 2024. For real-time information, use BondView as your guide. A quick CUSIP entry or advanced search reveals details such as interest rates, coupon rates, maturity dates, recent trade prices, and credit ratings.
Note: As with any investment, the market value may vary during the period the investment is held. This article is informational only and does not a substitute for professional financial advice. Please check with your financial advisor before making any investments. Subject to prior sale and market conditions as of 09/11/24.