In another sign that the bond marketplace is getting a bit bubblicious, Mexico auctioned off a century bond today, according to Reuters.
That’s 100 years, yielding at 6 to 6.125%.
Investors searching for yield in fixed-income markets, starved by the absence of subprime and other more risky new issuance as well as the declining yields in U.S. debt, are now turning to this sort of deal.
Only the first tranche, at $500 million, has been auctioned.
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