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Monday, 25 January 2010

BOND SALE WIN, INTEREST RATE FAIL

The FT reports that our new private offering of government debt has gone down really well.  More details here.

It also notes, however, that we're likely to pay 6.12% interest rate (you read that correctly) on these 5-yr bonds. I guess I can see the attraction.

To put this into perspective, have a look at what I would have to pay on a mortgage in the UK. Yes, you read well again.

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