Stat of the Day: California now in top ten for highest government default probabilities in the world

No one fails, but this policy carries a price of deteriorating confidence in management of the currency.

The usual suspects are on the list including Dubai, Ukraine and Latvia. The one thing to notice is that California has now cracked the top ten with a 20% default probability. For California muni bond holders, this number bears watching.

Source: creditwritedowns.com