To get the same yield, an investor would have to buy a lower-rated bond, such as a 15-year double-A-rated bond or a triple-B-rated bond maturing in eight years.
There are people who will reach for yield either by going to a high-yield bond fund or maybe a long-term bond, but those, for me, pose a little bit too much risk.
The country had marketed a five-year bond with a yield likely to be about 5% and a 10-year bond at about 6.125%.
One advantage of this is that it would eliminate the cost of re-establishing a government-bond market in a couple of decades' time, when the rising costs of ageing populations will surely force governments to start borrowing again.
The country had marketed a five-year bond with a yield that was expected to have been around 5%, and a new 10-year bond at around 6.125%.
Mr. Nixon said the fund is critical not just for the state to gain a triple-A bond rating, but to also be prepared for higher health-care costs in coming years and to maintain consistent program funding levels.
For example, it might buy platinum and sell silver, or buy a thirty-year U.K. bond and sell a ten-year bond.
Say a municipality was refinancing a triple-A-rated bond an investor bought three years ago with a yield of 3.37%.
When these products encounter ninhydrin, a particular bond is formed - a bond that absorbs light of a particular colour.
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Like other Myanmar companies, though, it has limited access to capital under Myanmar's antiquated financial system, which lacks a corporate-bond market or a major stock exchange.
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Goldman also said it has received subpoenas from unspecified regulators seeking information on the firm's mortgage business and products such as Abacus 2007-AC1, a mortgage-bond deal.
In a world where Rwanda debuts in long-term market borrowing and pays 6.8% for a 10-year bond, as happened a few days ago, Portugal borrowing at 5.7% seems a smaller victory than one might originally have thought.
Japanese bonds broadly finished the day down however, as investors took a step back before a 10-year bond auction on Tuesday and a 30-year auction on Thursday.
After being down several days in a row, the stock market got a lift Friday from European rumors that the ECB is considering setting yield-band targets in a new bond-buying program to help contain borrowing costs for Greece, Spain, and Italy, and the release of a letter Fed Chairman Bernanke had sent out a few days earlier.
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Hornby is planning a range of collectable Moshi Monsters pin badges, and has also launched a Star Wars-based Scalextric range, a number of James Bond-related products and a series of mini collectable vehicles.
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The offender gradually moves from being a stranger using force to an acquaintance using seduction to a father-like or domestic figure using a family-like bond.
One is LeapFrog, a start-up financed by Michael Milken, a former junk-bond financier and jailbird, and Larry Ellison, the boss of Oracle.
He was perfectly positioned by the 1980s to make serious money and headlines as a junk-bond-fueled hostile takeover artist.
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Those of Pernambuco (Miguel Arraes, a legendary socialist antique) and Santa Catarina suffered crushing defeats, perhaps because they were implicated in a government-bond scandal.
The reason is that someone buying a high-coupon bond at a premium is entitled to write off the premium over time as a deduction against the interest income.
Many bond investors still hope that, after a token effort, Pakistan will say a bond-rescheduling is impossible, and that the Paris Club will release it from the condition.
But it is premature to worry about a government-bond famine.
If you bought a 10-year bond with a 5% coupon in 2003, your only option as it matures in 2013 may be to accept a much lower coupon rate.
This week the Bank of England, following the European Central Bank, said it would no longer be guided strictly by a government-bond's rating when deciding whether to accept it as collateral.
The resurrection in stocks since March of 2009 corresponded with a momentous junk-bond rally, too, prompting investors take a more skeptical view of high-yield corporate debt.
This happens when a higher-yielding bond matures in a lower interest rate environment.
As recently as Dec. 14, the yield on a 30-year bond fell to a record low of 2.925% during a U.S. Treasury debt auction.
Two ideas are on the table: commit to keep short-term interest rates near zero for even longer than through mid-2013, and restart a bond-buying program aimed at driving already-low long-term interest rates lower.
Nor do I think a proper corporate-bond market will develop for a very long time.
Bonds do provide regular income and, depending on your needs, holding a longer-term bond may still make a lot of sense.
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