But the fact that markets have rallied is no guarantee the real economy will too.
With no guarantee, and no real way to measure how much of the tax base will come back in the near term, the bonds would not be likely to get insurance, a required element for many institutional buyers.
In 2010, the coalition said it would "guarantee that health spending increases in real terms in each year of the Parliament".
For where tax cuts imply greater room for the real sector to operate, spending cuts all but guarantee it.
And when these real-world components meet the clever academic theorems that guarantee security, holes emerge.
ECONOMIST: Secure cryptography is only as safe as its weakest link
This community spirit means that broadcasters can guarantee to advertisers that their shows attract a real-time audience and cannot therefore skip the commercials.
He graduated in 1975, but instead of turning to his father, he says, he persuaded several wealthy Ecuadorians to guarantee bank loans on his behalf to buy real estate.
But Labour said the UK needed real action to help people back into work - including the guarantee of a job for all those out of work for two years - not "pointless tests".
Customers will not have to fire off their real credit-card number into insecure cyberspace and will have a guarantee of their money back in the event of disappointment.
The exact mix between the cheap money policy of the Fed (which allowed the prices of real estate to be bid up) and the unsound lending and guarantee practices of Fannie Mae and Freddie Mac is surely part of the overall story.
Without Fannie and Freddie's implicit guarantee of government support (which turned out to be all too real), would the mortgage-backed securities market and the subprime part of it have expanded the way they did?
And Italy, sorely lacking the creativity of injured AC Milan midfielder Andrea Pirlo, are now under real pressure to ensure an extended stay in South Africa: they must beat Slovakia on Thursday to guarantee a place in the last 16.
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