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War against Iraq could increase demand for solid, state-backed bonds

U.S. led war against Iraq could increase investor demand for solid state-backed bonds. Elizabeth Gill reports:

Lt. Governor Joe Maxwell says Missouri's general revenue bonds might be an attractive investment in the event of a war:

"I think Missouri is a solid state. And there may be some individuals looking to get out other risky investments and look to Missouri for a solid opportunity."

The state legislature has approved a plan to use general revenue bonds to balance the budget.

The office of administration is planning to issue the bonds by mid-April.

Mark McMullen, a senior economist at economy.com, says Missouri may look like a safe investment due to its strong credit rating.

And McMullen says he sees no distruption in the bond market in the event of war.

From the state capital, I'm Elizabeth Gill, KMOX news.