In order to best take advantage of the rigged bond yields in Europe, much to the delight of the desperate bond buyers at the ECB, Italy, Belgium, Ireland and Spain will join France at the vanguard in launching an enormous amount of issuance — wonderfully and splendidly unveiling the 50 year ‘super-long term’ bond for all of the world to ‘enjoy’.
It’s worth noting, both Japan and S. Korea are concocting similar schemes, in order to best take advantage of record lows yields.
The Rome-based Treasury announced the issuance “after a thorough market analysis,” it said in a statement on Monday.
Perhaps said analysis had something to do with this unfortunate fact?
Just to get an idea what a 50 yr bond might yield for those lucky enough to partake, here are the yields for the 30yr bonds for the aforementioned countries.
Italy 2.27%, Belgium (20yr) 0.63%, France (50 yr) 1.37%, Ireland (15yr) 0.71%, Spain 2.02%
My best guess, a truly heinous Italian 50yr bond will yield anywhere from 2.25% to 2.5%.
The Italian job will be lead by IMI S.p.A., BNP Paribas, Goldman Ballsachs, HSBC, JP Morgan and Unicredit.
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Nice.. smells of desperation but I’m sure it will be picked up and pimped by ever wealth management house around.
So you double your money a half century later….pass
You are a very humorous man, Mr. Fly.
Trump should put in volker and put yellen out on her plush fat ass.
But we are going to raise rates…