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August 17, 2011

San Francisco Chronicle: Kenneth Naehu Quoted in “Time is Right for California to Issue Bonds”

“Time is Right for California to Issue Bonds,” by Kathleen Pender, San Francisco Chronicle.

If the state sold the notes today, the yield would probably be in the 0.5 percent range, says Ken Naehu, a managing director with Bel Air Investment Advisors. As an investor, he hopes they will be higher and would be an eager buyer if they were closer to 1 percent.

“The metrics are very attractive now for the state to issue bonds. There is a lot of demand and very little supply,” Naehu says. Given the unsettled nature of the markets, that could change at any time.

“I don’t know if a municipal (debt issuer) is going to get a much more attractive entry point than they have right here,” Naehu says.

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