California isn’t ‘Greece of the U.S.’
California and Greece may both be associated with overwhelming debts, but California’s debts are outperforming Greece’s bonds, according to a report from Bloomberg.
Large funds have recognized that California’s ultra-risky credit rating may have been exaggerated, and the cost to protect against the state not paying its obligations is the lowest relative to Greece in at least 15 months, according to the report. California sold $3.4 billion in taxable debt last week at its lowest costs since November.
Meanwhile, back in Greece, we reported last week that Eurozone countries have agreed on a bailout program for Greece that involves the International Monetary Fund.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.
Thanks to our
Your support keeps us going strong, even through