FYI: The world’s best-paying bond has a big fan in one of the world’s largest bond investors.
Pacific Investment Management Co. and its parent company, Allianz Global Investors, have snapped up an Argentine government note that pays a floating coupon equal to the country’s benchmark interest rate -- which at one point in October reached a staggering 74 percent. They boosted holdings by more than 50 percent this year and now own about a quarter of the 104 billion pesos ($2.7 billion) outstanding, according to data compiled by Bloomberg.
Regards,
Ted
https://www.bloomberg.com/news/articles/2018-12-28/bond-with-world-s-highest-interest-rate-has-a-big-fan-in-pimco
