Municipal Bonds
Detroit Sells $250 Million of Its Debt Without Recent Disclosure Filings Detroit, the largest U.S. city
whose debt is rated below investment grade, sold $250 million of
debt today without having filed annual financial reports on time
for five years.
California Pension Fund May Challenge Apple, BlackRock on Board Elections The California Public Employees’
Retirement System, the biggest state-run U.S. public pension,
may use its financial clout to force BlackRock Inc., News Corp,
and other companies where it has large holdings to change the
way they elect directors.
Treasury 30-Year Bond Rises on Biggest Demand at Auction Since September Treasury 30-year bonds gained as
one of the biggest yield premiums over 2-year notes on record
bolstered demand at today’s auction of $13 billion in bonds.
California Said to Boost Tax-Exempt Bond Sale to $2.5 Billion Amid Demand California boosted the size of its
debt sale to $2.5 billion, adding $500 million to its first
issue of tax-exempt bonds since November after individuals
placed orders for more than half the securities initially
marketed, according to two people who have seen the offering
information.
New Jersey Governor Christie May Privatize Jobs to Reduce State Expenses New Jersey Governor Chris Christie
said he may privatize some state jobs in 2011, as he struggles
to close an $11 billion budget deficit amid rising costs for
employee salaries and benefits.
California Democrats Seek an End to `Supermajority' Budget Approval Rule California’s two top Democratic
lawmakers said they’ll propose constitutional amendments aimed
at easing the budget process in the most populous U.S. state.
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