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Strategies & Market Trends : Asia Forum
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To: Thomas Haegin who wrote ()5/31/1998 10:13:00 PM
From: eWhartHog  Read Replies (2) of 9980
 
While reading yesterday's Financial Times I noted an announcement that the coupon on a European Investment Bank floating rate yen note (1992-2008) was set at 0.07031% per annum for the six months ending Nov. 30, 1998. That's right, only 7 basis points in annual interest, with a 361 yen semi-annual coupon payable November 30 on a 1 million yen note! FRNs are not an area I follow, but even though yen rates are low, this seems remarkable. Has any FRN been set with a zero coupon yet? We seem to be near the time of a true "zero coupon" bond.
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