Heavy demand for CA munis

Boy, for a state that's supposedly on the verge of implosion (at least according to some of the financial bloggers), individual investors have been snapping up California's tax-free bond offering. As of Wednesday morning, orders had been received for two-thirds of the $2-billion sale. That's a much better showing than for the bond offering last October. In fact, some of the maturities are oversubscribed. Yields have not been announced - and if demand continues to be strong, they might turn out to be smaller than expected. (LAT)


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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