Lousy bet: California Revenue Anticipation Notes Sep Sep 21 2009

[equalizer]

Who the heck is going to buy these at low yield, they are NOT a general obligation of the state.

“Early next week, California will sell $8.8 billion in tax-exempt revenue anticipation notes, but investors hoping for a repeat of last year’s juicy yields – 3.75 and 4.25 percent – are likely to be disappointed.

The state will disclose roughly how much it will pay on Monday, when the order period for individual investors opens. Market sources expect it to be 1 to 2.5 percent.”

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/16/BUIS19O4DR.DTL&type=business#ixzz0RVxEubTr

That’s well below the 3.75 percent the state paid on its IOUs, which were repaid with a $1.5 billion loan at 3 percent from JPMorgan.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/16/BUIS19O4DR.DTL&type=business#ixzz0RVx6oYLO

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/16/BUIS19O4DR.DTL&type=business#ixzz0RVx2KNRN

[enron_by_the_sea]

Agreed:

I checked this out this morning (They are doing a radio ad hardsale). I was hoping to see a repeat of 3+ % yields, but these yields are totally waste of time! (Did not realize that these were not even GO ….)

CA credits are on a rally last couple of months. I guess the window to buy munis is shut down for now!

[enron_by_the_sea]

Agreed:

I checked this out this morning (They are doing a radio ad hardsale). I was hoping to see a repeat of 3+ % yields, but these yields are totally waste of time! (Did not realize that these were not even GO ….)

CA credits are on a rally last couple of months. I guess the window to buy munis is shut down for now!

[enron_by_the_sea]

Agreed:

I checked this out this morning (They are doing a radio ad hardsale). I was hoping to see a repeat of 3+ % yields, but these yields are totally waste of time! (Did not realize that these were not even GO ….)

CA credits are on a rally last couple of months. I guess the window to buy munis is shut down for now!

[enron_by_the_sea]

Agreed:

I checked this out this morning (They are doing a radio ad hardsale). I was hoping to see a repeat of 3+ % yields, but these yields are totally waste of time! (Did not realize that these were not even GO ….)

CA credits are on a rally last couple of months. I guess the window to buy munis is shut down for now!

[enron_by_the_sea]

Agreed:

I checked this out this morning (They are doing a radio ad hardsale). I was hoping to see a repeat of 3+ % yields, but these yields are totally waste of time! (Did not realize that these were not even GO ….)

CA credits are on a rally last couple of months. I guess the window to buy munis is shut down for now!

[CA renter]

TDAmeritrade sent out e-mails advertising these notes. Good luck to them!

[CA renter]

TDAmeritrade sent out e-mails advertising these notes. Good luck to them!

[CA renter]

TDAmeritrade sent out e-mails advertising these notes. Good luck to them!

[CA renter]

TDAmeritrade sent out e-mails advertising these notes. Good luck to them!

[CA renter]

TDAmeritrade sent out e-mails advertising these notes. Good luck to them!

[Author]

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