Apr 15/15 – It was my understanding there would be no math

A few days ago Mexico floated €1.5 billion of 100 year bonds. Yup, you got that right – a billion and a half of 100 year bonds denominated in another currency. And the real kicker is; they were priced to yield just a tad over 4%. Four percent for a hundred years! In a currency that might not even be around in 10 years, forget about 100. I can’t figure o…