bonds and you
Update: An update and further context from Bloomberg as well: New York Bonds Cost Rise as Banks Let Auctions Fail.
Update 2: NYT has more coverage and more explanation today: Auctions Yield Chaos for Bonds . One quote in there says that the current crisis could "could push up the rates that cities and states must pay to borrow money". Some dots just spontaneously connect themselves. Anyone? And it may be interesting to reread where this all started which is Bill Ackman's treatise: Is MBIA Triple A?