Oh Boy, California Munis Are Getting Crushed Again Today

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.

Click here for the state with the biggest budget gaps >


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