Monday, April 25, 2016
Don't Quite Know What This Neans
Some Federal Farm Credit Bureau bonds I bought a few years ago have been called. I paid $20,120 for them so slightly above par. They were paying 3.7% per year, so losing a $120 on the principal isn't too bad. But I think this means farmers have been refinancing their debt at lower interest rates. Why did it take this long?