Hunt for Exotic Yields Is Dangerous
Feel happy for Portugal, which just raised 750 million euros ($1 billion) with a bond yielding just 3.57 percent, despite still being in an international bailout caused by a near-bankruptcy. And pop some champagne for French cable operator Numericable, which recently issued $21 billion (no, not a typo) worth of junk bonds of various durations, yielding from 4.875 percent to 6.25 percent - the order book was subscribed for more than $100 billion.
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