Currently, the Treasury yield curve ranges from 0.11% for 3-month T-bills, to 2.85% for 30-year T-bonds.
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This is reflected in the NOB spread as it measures the difference, or spread, between T-bonds and T-notes.
T-bonds now, not only will they net a tidy profit, there is a good chance they will get out at the top of the market.
And that means T-bonds should outperform all the other asset classes for a while, as they have done this year, although obviously there will be periodic corrections.
The difference is that the flaky-currency players don't buy dollar-denominated bonds and don't buy longer-term paper.
In the upper deck, there were the two guys wearing T-shirts with Bonds' number and the word juiced on the back.
Critics of the SIV bailout plan have said it does nothing more than shuffle around paper and that it doesn't address the main issue: Bonds and short-term debt can't be priced because there's a dearth of buyers.
In the domain of derivative contracts like credit default swaps or auction-rate preferreds (which even George Soros didn't know existed) or complex collateralized debt obligations of mortgage-backed bonds, there was a "failure to know what isn't known, " and the ramifications for not knowing were huge.
It doesn't make sense to buy long-term bonds at high prices now if the market is likely to reverse soon, some market participants say.
Critics lodge a number of complaints, saying that these plans would increase future budget deficits, hurt the sales of annuities and the cash value of life insurance policies, lessen the attractiveness of tax-exempt bonds and wouldn't actually increase the pool of savings.
For taxable accounts, he favors tax-free municipal bonds, which aren't subject to the new tax.
But a 501c3 charity can take tax-deductible contributions and raise capital by issuing tax-exempt bonds, two advantages 501c4s don't enjoy.
Although the credit rating agencies don't rate these pools, they give triple-As to the corporate bonds of the sponsors.
Some small countries, like Iraq, don't have functioning treasury-bond markets but have sold foreign-currency bonds internationally, giving fund managers another avenue to invest in them.
While heavy debtors might be expected to offer higher yields, as in the corporate-bond world, this isn't always the case with government bonds.
It doesn't work for tax-paying individuals, but take Treasury inflation-protection bonds.
Because investors had several years' experience that had taught them corporate bonds were a sound investment even if they weren't top-rated credits.
The first salvo was last month's proposal by the European Union to ban so-called naked credit-default swaps those in which buyers don't own the underlying bonds.
Michael O'Toole, a senior director of government relations at the American Payroll Association, a San Antonio-based trade group, says small payroll firms couldn't afford to post bonds for their clients.
What the FT says is that the financially challenged Spanish government is a bit worried about raising the 19bn euros by selling government bonds in the normal way - because, as probably hasn't escaped your notice, investors have become more wary of lending to Spain, and its borrowing costs have therefore risen very sharply (the implied interest rate on 10-year loans to Spain was 6.4% this morning).
Under the program, the BOJ buys not only government bonds, but also corporate bonds, equity and real-estate funds, a move other major central banks don't employ.
Tobu, a major railway operator in the Tokyo area, doesn't need the funds until June, when existing bonds are due, but it wasted no time in issuing 10-year bonds because Japan's new economic policy, dubbed "Abenomics, " is likely to lead to higher interest rates later.
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