Issuing shorter bonds increases its refinancing price (interest expense) risks when rates rise.

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Corporations are paring interest expense markedly through calling and refinancing debt and issuing preferred stock.

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Incremental interest expense savings from additional debt refinancing.

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Mortgages might automatically give customers the benefits of refinancing when interest rates fall, saving them the expense and legal hassle of switching to a different company.

ECONOMIST: Now that's a good idea