No repayment in a lifetime doesn’t deter today’s investor. Austria’s first 100-year bond in Sep attracted twice the usual number of investors. Neither lender nor borrower will be around to see the bond repaid. Central bank quantitative easing fixed-income purchases have drained liquidity, dropped yields to record lows and caused risk mis-pricing.
Guessed the Word? Series 12 (2/5) [photo: tookapic]