California Treasurer Bill Lockyer has set a multi-billion dollar bond sale calendar for this spring that gives business to underwriters and bond counsels he had said would be excluded unless they restructured perceived bad capital appreciation bond deals.
Lockyer Caves on CAB Penalty
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