clifp
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Oct 27, 2006
- Messages
- 7,733
I found this article pretty amazing.
Could one of the pros like Brewer or Saluki explain what the heck is going on? More importantly how do I get my hands on some of these 20% bonds?
Bloomberg.com: WorldwideFeb. 13 (Bloomberg) -- Bonds sold by U.S. municipal borrowers with rates set through periodic auctions failed to attract enough buyers as banks including Goldman Sachs Group Inc. and Citigroup Inc. that run the bidding won't commit their own capital to the debt.
Rates on $100 million of bonds sold by the Port Authority of New York and New Jersey, with bidding run by Goldman, soared to 20 percent yesterday from 4.3 percent a week ago, according to data compiled by Bloomberg. Presbyterian Healthcare in Albuquerque and New York state's Metropolitan Transportation Authority also experienced failures, officials said.
Could one of the pros like Brewer or Saluki explain what the heck is going on? More importantly how do I get my hands on some of these 20% bonds?