A California municipal bond exchange traded fund (ETF), iShares S&P California Municipal Bond (CMF), is trading higher this morning. An ongoing budget crisis in the state has made munis attractive to investors willing to take on some risk. California’s bonds are rated the worst in the country, at A-. CNN Money notes that this is a rating most corporations would love to have. Here are more stories on the subject that may interest you:

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.