California is poised to reclaim its spot as the biggest borrower in the municipal market after an improving budget outlook propelled the state’s debt in a year when taxes rose for its wealthiest residents.
California and its localities have sold $46.2 billion of long-term bonds in 2013 through Dec. 20, up about 13 percent from last year’s pace, data compiled by Bloomberg show. That puts the Golden State atop New York for the first time since 2010. New York bond sales have dropped 18 percent this year to $36.4 billion.
