SAN FRANCISCO — As Gov. Jerry Brown readies the release of his second shot at a balanced budget next week, the California bond market has become hamstrung by the delay.

Uncertainty about passage of a balanced budget has caused California — the largest seller of municipal debt — to hold back on issuing any new paper, and has also kept state municipalities out of the market because of unknowns surrounding the budget’s impact.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.