Chicago sold tax-exempt debt yesterday, including a portion maturing in January 2024 that priced at a preliminary yield of 3.95 percent, according to data compiled by Bloomberg. That’s about 1.4 percentage points above benchmark debt, or almost double the yield spread from a 2012.

Comment: One huge error in this story is that, contrary to what the story says, last year’s pension reform bill did not “slay Squeezy” at the state level, which should be apparent from today’s top story showing state’s finances are worse than ever.

via Chicago Pension Evokes Illinois Before Python Slain: Muni Credit – Bloomberg.