California revenues in November were $840 million below the forecast in the state's budget mainly due to lower tax collections from Facebook's initial public offering, according to the Department of Finance.
California Finance Dept. Says Revenues Missed Target
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY