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Oct 12, 2017

The Wall Street Journal reports that an obscure central Asian country last month raised $500 million dollars--in real green money-- in its first-ever international bond sale, paying just 7.125% in annual interest which drew a “swarm” of American and European buyers. The 10 year bonds are rated Single B minus--six notches below investment grade. Banks, including CitiBank says the Journal, actually bought a good share of these bonds. Find out who else bought these bonds--it might be YOU by the way if you own certain mutual funds--and learn how to pronounce the name of the country!! Steve promises he will tell me how!!