California Municipal Bonds

T. Rowe Price & Associates tracks the yields of 20 California municipal bonds and the Bond Buyer Index of 40 national issues.

Bond Buyer 40-bond Index

December 1996: 5.72%

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California Index

December 1996: 5.65%

Five widely held California bonds:

Issue: California general obligation 10-year

Coupon: (generic)

Maturity: (generic)

11/29 Yield: 4.80%

Friday Yield: 4.90%

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Issue: California general obligation 20-year

Coupon: (generic)

Maturity: (generic)

11/29 Yield: 5.42

Friday Yield: 5.55

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Issue: Los Angeles Metropolitan Transit Authority (insured)

Coupon: 5.50%

Maturity: 7/1/2017

11/29 Yield: 5.60

Friday Yield: 5.68

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Issue: California public works lease revenue

Coupon: 6.00%

Maturity: 10/1/2014

11/29 Yield: 5.64

Friday Yield: 5.70

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Issue: San Francisco airport (insured)

Coupon: 5.65%

Maturity: 5/1/2024

11/29 Yield: 5.65

Friday Yield: 5.75

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Source: T. Rowe Price & Associates in Baltimore, which manages a $150-million California bond fund.

Note: All yields are as of 2 p.m. Friday. Yields are based on institutional trading, retail prices and a survey of California brokers. Yields offered to individual investors will vary.