SECURITIES
From Times Staff and Wire Reports
California Will List $3.3 Billion in Bonds: The state next week will become the first municipal bond issuer on the New York Stock Exchange in decades, according to state Treasurer Kathleen Brown. Most municipal bonds are traded through brokers, not on exchanges. Brown said the move will lead to greater price and credit disclosure, which regulators have been pushing. The idea is to make California’s bonds more accessible to investors, which might lower the state’s borrowing costs.
