Famous Anus chocolate chip cookies and the 100 year IOU

In case you are wondering......monkey don't normally venture into "belakang" territory....but news are trickling into the cyberspace of another muka pecah softie got buggered.....

Which one is your favourite?

Is it the Walnut flavored Munawar Aneez, The macadamia nuts Azizan or the Hazelnut Saiful or will it be the new guy?

UPDATE 07/10 1129HRS for details on what actually happened go here

Anyway.............

Theres something more interesting I wanna share with you...the Mexican Government just issued a 100 Year USD Bond that pays 5.75% per annum....

The bonds were successfully issued at 6.1%

MEXICO CITY (Dow Jones)--Mexican finance officials said the government's sale Tuesday of the largest ever 100-year bond practically wraps up its foreign capital markets financing needs through 2012.

Mexico sold $1 billion in 2110 bonds, which carry a coupon of 5.75%, at a yield of 6.1%.

"It's not often that you get the chance for non-traditional issuances," said Gerardo Rodriguez, head of the public credit at the Finance Ministry, in an interview.

Rodriguez noted increasing appetite among institutional investors for longer-dated securities, but declined to estimate whether yields for emerging market debt have hit bottom. "It's hard to say what direction markets will move in."

The Finance Ministry said demand for the 100-year bond was 2.5 times the amount placed, and the yield lower than the 6.22% Mexico paid on 30-year bonds in April. With a planned yen-denominated issuance later this month, the government will have covered its foreign capital markets financing needs through the end of 2012, the ministry said. More here

Mental siut.....

100 years bonds are not new...... companies have issued them...

The longest of them all is the Canadian Pacific Corporation, which was paying 4% on a 1000-year bond, issued by the Toronto Grey and Bruce Railway in 1883, and due to be repaid in 2883....

Lagi mental.....

Buyers of these are mostly Pensions and Insurance Companies who are always hungry for long dated papers to match their liabilities........

On the Sovereign side...Brittian lagi macho they issued "perpetuities" ...bonds with no maturity date during the WWII....nasib baik the Germans didn't win.....

I can understand when one invest in long dated sovereign issues.....but companies?

More importantly will the Mexican Century Bonds set a precedent for emerging market sovereigns to explore uncharted territory in the long end of the curve?