Berko's advice: Beware California's municipal bonds
Erie Times-News - Wed Dec 9, 12:08 am ETDear Mr. Berko: The state of California is soon going to issue about $5 billion of tax-free municipal bonds. My broker tells me that the long-term bonds will come public with a 5 percent current return and will be rated BAA. I would like to buy $20,000 of these bonds, but my broker believes that the bonds are risky. I would appreciate your opinion.




