Comment on Small investors shun California's tax-free bonds

Small investors shun California's tax-free bonds

Individual investors, who had snapped up as much a 80% of state bonds last year, put in orders for just 22% of an $1.8-billion issue this week. Paltry yields are the primary reason.When California offered tax-free bonds for sale in recent years, the state could always count on robust demand from yield-hungry individual investors.

 

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