Chicago Public Schools' $872 million of junk-rated paper met with a more fickle high-yield audience this week, underscoring the district?s vulnerability to market volatility even as it inches closer to investment grade status.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Why would anyone buy theses? Who’s buying these? The feds?
These are the bottom feeding investors who will be complaining about having to take a hair cut when the system collapses as happened in Detroit!
4% bonds in an era of 7% inflation. Thank you Federal Reserve!