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December 31, 2013 : Permanent Link

Kiplinger – If you’re looking for double-digit income, Pakistan has a deal for you. A model of geopolitical instability and down to its last $4 billion or so in foreign reserves, the sanctuary of the late Osama bin Laden has announced that it intends to raise $1 billion through its first bond issue since 2007. Currently, outstanding Pakistani bonds that mature in five years yield 12.3%. That is a rich 11 percentage points more than the yield on U.S. Treasury IOUs of similar maturity. Plus, just imagine if Pakistan’s prospects get better and interest rates drop. Holders of those bonds could reap big capital gains!

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