This is getting scary. Following a week of utter drubbing in the muni, California bonds are getting crushed today. The PIMCO California Municipal Income Fund is down 3%.
There’s something extremely PIIG-like about the speed of this collapse right now.
Bear in mind that California has at least $12 billion in fresh auctions this week.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.