Harrisburg, Pa., will miss a general obligation bond payment for the second time this year, its state-appointed receiver said Tuesday. But the move surprised no one, nor will it send ripples through the bond markets, observers say.

“Harrisburg is one of those isolated cases, like Jefferson County, Stockton and even San Bernardino,” said Anthony Valeri, a market strategist at LPL Financial. “It’s a one-off, and not representative of the bond market.”

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.