The State of New Jersey
Despite its wealth and educated work force, the State of New Jersey has struggled for years to balance its budget and address its embedded financial liabilities – particularly employee pensions.
High quality but costly public schools, neglected infrastructure, and continually rising healthcare costs mean that the soon-to-be elected governor and the state legislature will need to make some tough decisions.
In the interim, yields for state bonds are increasing and prices are declining. We see opportunities now in the issues less dependent on state funding. To read our full analysis on The State of New Jersey, please download the paper here.