pro/con:

来源: qtwen 于 2014-07-01 01:49:17 [] [旧帖] [给我悄悄话] 本文已被阅读： 次 (1293 bytes)
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pros:

P1. Liquidity.US Treasury market is the deepest and most liquid market. Treasury supposes to be very liquid, comparing to real estate, which normally is illiquid;

P2, "assumed" safety, so far it is assumed by market that US treasury won't default (more on this later);

P3, maybe limited tax benefit on interest/note coupon;


cons:

C1, low rates;

C2, safety is a BIG assumption. US treasury may not default outright, but it can default sneakly. IMF is proposing extending soveign debt maturity, meaning after one bought 1 year note, government can declare that the note maturity will be extended to 30 years at the SAME rate. Hotel California:"You can check in, but you cannot check out"...

C3, On liquidity. Fed (Reserve) is talking about forcing retail investors to pay an "exit-fee" to sell Treasury should market volatility rise, meaning you will have to pay a fee/fine to sell it if market panic;

...

罗嗦一句。 C2 & C3 乃秋之二叶









 

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