Uncertainty abounds in financial markets globally during the coronavirus pandemic, but New Jersey’s government bond market has been steady so far this year, according to data for the first half of the year.
Jacqueline Shanes, a public finance partner at McCarter & English in Newark, which handled nine of the deals documented in the New Jersey data, while representing the New Jersey Economic Development Authority,
the New Jersey Institute of Technology and the Monroe Township Board of Education, generally agreed with Moore.
“At this point, there really haven’t been a lot of changes in the volume,” though “market participants are seeing the deals a little differently,” Shanes said.
Later this year, she said government tax revenue issues should come more into focus. “Implications of COVID might not be seen until the end of the third or fourth quarter.”