FYI: (What a wonderful state I live in !)
llinois bonds surged as the legislature moved closer to ending a record-long impasse over the budget, reducing the risk that the state’s bond rating will be cut to junk.
The rally came after the state senate overrode Governor Bruce Rauner’s veto to approve tax increases and the first full-year budget in two years, sending the measures to the House of Representatives. Without a spending plan in place, Illinois had been squeezed by chronic deficits and credit-rating companies warned that they may withdraw the state’s investment-grade rank, a step that could have prevented some investors from buying its debt.
Regards,
Ted
http://www.fa-mag.com/news/illinois-bonds-rally-after-state-moves-to-end-budget-impasse-33569.html?print
