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View of California water bonds shifts with ongoing drought




California's long-term drought has significantly dropped the water level at Lake Perris in Southern California. According to local fishermen, all of this sand used to be covered in water.
California's long-term drought has significantly dropped the water level at Lake Perris in Southern California. According to local fishermen, all of this sand used to be covered in water.
Tom Dreisbach/NPR

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Water bonds have long been seen as a safe bet in the investing world, but anxiety is rising with the ongoing drought in California.

Aaron Kuriloff wrote about the $3.7 trillion municipal-bond market for The Wall Street Journal in "Latest Victim of California’s Drought: Water Bonds."