Or simply giving money away?
There was much hoopla late on Wednesday as Verizon got the world’s largest corporate bond sale away — some $49bn of paper which will help to buy the rump of Verizon Wireless back from Vodafone.
Here’s a little table from Marc Ostwald of Monument Securities that hints at the excessive premium offered by Verizon, along with the instant profits on offer to investors here: Read more
We are indebted to Marc Ostwald of Monument Securities for this:
AMSTERDAM, Dec 20 (Reuters) – The Dutch central bank cancelled its interim dividend, thereby increasing the government’s budget deficit, saying it may make a loss in 2011 due to the European Central Bank’s bond buying programme, the Dutch Finance Minister said on Tuesday. Read more
Further reaction to the European “shock and awe” stabilisation package this time from Marc Ostwald of Monument Securities who says there are lots of unresolved issues.
Perhaps the most important, he says, is encapsulated in a 1950s German saying: “Wer soll das bezahlen?”, which in English roughly translates to “Who is going to pay for this”? Read more
The lull before another storm?
UK DEBT MANAGEMENT OFFICE SAYS GETS 2.08 COVER AT 2 BLN STG SALE OF 4.5 PCT SEPT 2034 GILT
UK DMO GETS 0.3 BASIS POINT YIELD TAIL AT SEPT 2034 GILT AUCTION Read more