0914

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FT news Record-breaking military deal The great British Firewall- GCHQ-benefit: local developer firm+PWC Snowden seeks a pardon-politically important; moral arguments 1909 FT news- Australia 30 year debt- establish a maturity of clear benchmark size Australian yield curve – extend the curve Triple A credit rating –only 3 world-large rating agency Fixed income instruments Bond market- US is the largest debt issue (the market is large)/ Japan is second (borrow too much)/ Italy is the third (borrow too much) Term –short- commercial paper- issued by large reliable corporations – short way of financing Face value of bonds- borrowed, returned to whoever bought the bond, the money you get back; Price value > face value; if interest rate go down <; the interest rate go up Coupon rate Period- semi-annual in US Fixed or variable
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