1508 ET - Local governments and institutions in the crosshairs of the new administration could lose federal funding, potentially limiting their capacity to pay out their bonds, PGIM Fixed Income's Jason Appleson says. Conversely, risks could be shrinking for agencies more aligned with the new trends in Washington, or more immune to tariffs and deportations, for example. "As the oil industry opens the floodgates, Texas, Alaska, Oklahoma could benefit," he says. On the contrary, states relying on manufacturing could suffer if trade wars make imported inputs more expensive while possibly curbing exports. "It will be very state specific," Appleson says. (paulo.trevisani@wsj.com; @ptrevisani)
(END) Dow Jones Newswires
February 28, 2025 15:08 ET (20:08 GMT)
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