There is a sensible way to level the playing field between debt and equity, and it doesn't have to involve hair-splitting over the corporate treasurer's motives for floating a bond issue.

FORBES: Magazine Article

Still, floating-rate bond funds may be the best fixed-income deal available in an environment of rising short-term interest rates.

FORBES: Fixed Income for Bears

For one thing, it is hard to know how much companies have in fact lengthened the maturity of their debts because the interest-rate swap market allows them to swap those fixed bond payments into cheaper floating debt, a popular strategy in the investment-grade market.

ECONOMIST: Better to feast on cookies than junk bonds

These are all ideas floating around off the side of the desks of bond holders and Euro-thinkers.

BBC: Italy: 'Hang on lads, I've got a great idea��'

After a round on the inflatable floating trampoline, jet-powered surfboards or James Bond-style underwater "sea bobs, " whoever's lucky enough to commandeer the master cabin can wash off in what Connor believes is the world's first yacht-board aromatherapy shower.

CNN: STORY HIGHLIGHTS

Another reason demand for the long bond has been so voracious is that a lot of investment banks still use them to hedge their corporate-bond positions and interest-rate swaps (between fixed- and floating-rate obligations).

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For individuals the good news is that there are mutual funds that make it easy to invest in diversified portfolios of floating-rate loans, mostly made by banks to corporations with less than investment-grade bond ratings.

FORBES: Fixed Income for Bears