Thursday, March 25, 2010

California bond yields

Bloomberg:
The yield premium relative to comparable-maturity U.S. Treasuries, known as the spread, has fallen since November, when the state sold 30-year taxable securities offering 7.26 percent, or 3 percentage points above government debt. U.S. 30-year Treasuries are yielding about 4.7 percent in trading today.

I still await today's results. What assures investors when the government's main industry is creating unfunded pension liabilities? Dunno, except CALPERs has a great opportunity investing in its own mafia practices.

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