Great Weather – And Tax-Free Income
If California were a country, it would have the eighth-largest economy in the world, and like most large economies, it pays for much of its infrastructure through issuing debt – only recently ending a two-decade reign as the nation’s top borrower. Provided California stays on the road toward budgetary health, the state’s municipal bonds, which are designed to bring a steady stream of interest income exempt from federal, state and local taxes, could help lower risk for the state’s qualified residents. Recently, California's note sale for June 2014 maturity offered a yield of 0.23%, compared to 0.10% for T-bills on a pretax basis.
This motif is designed to provide cost-effective exposure to the California municipal bond market through bond-ETFs with staggered maturity schedules, which comprises relevant ETFs of intermediate- and long-term durations.
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