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California Once Compared To Greece, Trading Better Than 'AAA
FYI: Seven years ago, California was “the next Greece." Today, the state’s bonds are trading better than AAA.
As the Golden State benefits from record-breaking stock prices, Silicon Valley’s boom and a resurgent real estate market, demand for tax-exempt debt in the state with the highest top income tax rate in the U.S. is “insatiable," said Nicholos Venditti, a portfolio manager for Thornburg Investment Management. Spreads are so tight that Venditti has stopped buying California bonds for his national fund. Regards, Ted http://www.fa-mag.com/news/california--once-compared-to-greece--trading-better-than-aaa-34091.html?print
