Muni Market Unphased by California's Overdue Budget

The municipal debt market seems unconcerned about the prospect of California legislators' prolonged budget fight on how to close a $19 billion shortfall, potentially past election day in November.  Instead, the market expects the biggest issuer of debt among U.S. states will pay interest on it even as budget talks stumble along.  Click here to read the rest of this article by Jim Christie from Fox Business News on the state of California municipal bonds.

Steven Karsh