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Politics

Illinois state bonds lower after court strikes down pension reform

NEW YORK (Reuters) - Some Illinois state bonds traded lower on Friday after the Illinois Supreme Court ruled against a 2013 law to reform the state’s under-funded pension system.

Illinois state general obligation bonds maturing in 2033 fell to an average price of 105.901 cents from 109.983 cents when they last traded in November last year. The yield jumped to 4.426 percent from 3.990 percent.

Reporting by Edward Krudy; Editing by Chizu Nomiyama

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