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You're right: The long bond is less, so what are they invested in? "Marketable securities" with 3% yield means that they have something not AAA (which probably
by jpdoctor 15y ago
You're right: The long bond is less, so what are they invested in? "Marketable securities" with 3% yield means that they have something not AAA (which probably makes sense on such a large cash hoard) but there will come a day when interest rates go up. That will cause the value of their bonds to drop substantially.
Hell, I'd like 3% on my money.
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