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Investors see less risk from Buffett than U.S.

Bloomberg reports that some private-sector debt trades at yields that are lower than yields for comparable paper from the U.S. Treasury. This is unusual, since Treasury paper is usually thought of as the "risk-free" lending against which all other debt is gauged. Tyler Cowen is skeptical -- thinks that it may be a liquidity anomaly or that the private paper contains rights that the public paper doesn't.

Bloomberg:


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