It used to be when borrowers started selling 100-year bonds, the bull market for debt is over. That has not been the case yet as several issuers have sold 100-year bonds in recent months and rates are still grinding lower (though the pace of the grind has slowed of late).
Its one thing to buy a 100-year bond but its another thing to buy a 100-year bond from a country that has a history of serial defaults. Mexico is offering a half-billion dollars worth of bonds with a yield of about 6.1% yield.
I think I’ll take a pass on that opportunity, gracias.
