Takeaways by Bloomberg AI
- Money managers are receiving queries from worried investors about what New York City mayoral frontrunner Zohran Mamdani means for the city’s finances.
- Campaign promises don’t always translate to policy and even if they do translate to policy, they don’t happen overnight, according to Stu Caplan, a financial adviser.
- State control of the city’s taxing and borrowing power and fiscal guardrails will prove a major obstacle to the Democratic nominee’s promises, including his plan to raise $9 billion in tax revenue.
Bloomberg Markets
By Faith DiBiagio and Martin Z Braun
October 31, 2025