From wall street journal, Nov 20, page C4 Some examples given: Stockton (Californa) east water district yielding 4.73...while the city filed for bankruptcy, the water district is separate from the city, comparable water bonds are yielding 100+ basis points less. Fressno (California) revenue sewer bonds, upgraded to AA+ but yielding 3%+, while Riverside, CA is yielding 0.6% and rated lower. Fresno school district, A+, yielding 4.2...despite recent tax propostions that passed in the election.
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