South Canterbury Finance Limited

[GTM 3442]

Whatever blows up, it's always something to do with debt that kicks it off. But who knows whose debt it will be - who is getting worried about who else has lent how much, and to whom, and what's that debt worth now?

As an aside, you don't have to go too far through the alphabet of nations to find some interesting "opportunities"

https://www.bloomberg.com/opinion/ar...adness-is-this

https://www.cnbc.com/2017/06/20/arge...year-bond.html

[Aaron]

As an aside, you don't have to go too far through the alphabet of nations to find some interesting "opportunities"

https://www.bloomberg.com/opinion/ar...adness-is-this

https://www.cnbc.com/2017/06/20/arge...year-bond.html

Whoever is buying that debt must think there will be little or no inflation in Austria for the next 100 years and a lot less than there is currently in Argentina.

More likely though they are waiting for the next round of rate cuts and QE.

Someone who can value debt might be able to explain just how much the face value of the 2.1% coupon bonds will have increased from the original $1 value in light of the current 1.2% yield only two years later. That would be a significant gain I would imagine. It makes the buyers of the 2.1% bonds look like investment geniuses.