Now to put that into context, the equivalent UK bond yield is around 2.2% and Germany's is 1.8%.
It is hard to see how this could appeal to large numbers of investors who currently view the sukuk as a bond equivalent.
New tobacco companies, which by definition could not have participated in the decades-long scheme to convince smokers that the Surgeon General and their own doctors were lying to them, must post the equivalent of a bond to the states just to get into the business.
FORBES: Will The Compact Clause Trump The Tobacco Settlement?
"While in 2011, the fund invested 150bn krone of the year's capital transfers in European equities, in 2012, the fund invested nearly an equivalent amount in emerging bond markets", said Mr Slyngstad.
That's because selling a credit swap is equivalent to buying the corporate bond on margin.
Since pension promises are legally (and sometimes constitutionally) protected in many states, the equivalent promise is a government bond.
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It was talking of a spread of near 400 or 600 basis points over the equivalent U.S. 10-year bond.
For a taxpayer in the top federal bracket of 35%, a 3% dividend yield is equivalent to a 4% yield on a taxable bond.
For a top-bracket taxpayer, that was equivalent to as much as 12% on a corporate bond.
By the end of last week, the yield on Spain's 10-year bond hovered around 7%, the financial equivalent of being admitted to intensive care with a raging fever.
That move reduced all equity and high-yield bond exposure, creating 50% cash or cash equivalent allocations across all portfolios.
The other dinosaur den is financial options--the equivalent of the right, for example, to buy Treasury bond futures at a certain strike price--where traders hang over the railings, screaming and waving frantically.
If you buy a municipal bond that yields 6 percent, then it would be the equivalent of a taxable yield of 8 percent.
An alternative to the promissory note arrangement is considered in which a 40-year bond is used as collateral for regular ECB loans which replace an equivalent amount the ELA debt.
FORBES: How Much Would Ireland Benefit from Replacing the Promissory Notes with a Long-Term Bond?
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