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California's Big Sale Tests Muni-Bond Market

Wall Street Journal Original article ›

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The Legislative Analyst's office, California's budget watchdog, estimates a budget shortfall of $25 billion through fiscal 2012, with a $6 billion shortfall for the current year. California is issuing bonds to make up the shortfall. A $10 billion offer of short term bonds generated decent demand according to fund managers. California will also issue $2 billion of Build America bonds. This is happening as the demand for municipal bonds is slowing and yields are rising.

California Budget Crisis

01/14/2010

Grouped Articles

Brown Set for Victory in California Budget Fight

Wall Street Journal 06/12/2013

California Is Stuck in 1st Gear

Wall Street Journal 06/08/2010

California Budget Plan Incorporates Governor's Goals

Wall Street Journal 10/07/2010

California Governor Signs Budget; $7.5B in Spending Cuts

Wall Street Journal 10/09/2010

Blizzard of California Notes, Bonds Set to Begin

Wall Street Journal 10/22/2010

More Money, Less Juice

Wall Street Journal 10/23/2010


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