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Risky Pension-Bond Strategy Considered in Kansas
The Wall Street Journal; subscription may be requiredLink to more items from this source
Feb. 5, 2015
"Where Kansas sees a market opportunity, some bond investors see a warning. Pension-obligation bonds remain only a sliver of the $3.6 trillion municipal market even as many states wrestle with oversize retirement-system shortfalls. Such debt offerings can be seen as a sign of distress since governments such as California, New Jersey and Illinois are among the largest issuers and hold the lowest credit ratings among states."

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