SAN FRANCISCO — Stockton, Calif.’s announcement that it may cease general fund payments toward debt service on hundreds of millions of dollars in bonds, and take initial steps towards bankruptcy, is still shaking out in the market.

“I think this has been brewing for a while and I don’t think it is going to set off a wave or panic situation yet,” said Howard Cure, director of municipal research at Evercore Wealth Management.

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.