The Bond Bubble’s getting bigger
George Osborne is planning to launch a 100-year bond, says the FT — a sure sign that the Bond Bubble is getting even bigger. These devices are usually used by American universities: the California Institute of Technology issued one at 4.7 per cent, MIT did one at 5.6 per cent, and a few American companies have tried at 6 per cent. The Mexcians sold a billion bucks’ worth of century bonds a while ago at 6.1 per cent, so it would only be a matter of time before HM Treasury — a world leader in, ahem, novel debt vehicles — was going to do the same. The US Treasury Borrowing
