With the Atlantic hurricane season days away, bonds of Florida’s largest real-estate insurer are rallying the most in nine months as forecasters assess a below-average chance the state will be hit by a major storm.
Buyers are demanding the smallest yield penalty since August on tax-exempt debt from state-owned Citizens Property Insurance Corp. No hurricane has made landfall in Florida since 2005, and investors such as Michael Schroeder at Wasmer, Schroeder & Co. said they’re adequately compensated for the risk as the season gets under way June 1.
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