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I have been following fisn.com
In the Bond section they have GMAC SmartNotes. A five year note is paying 5.75. A 20 year callable note is paying 7.25. A 12 year callable Step-Up Bonus Rate Note is paying an average of 6.712% if held to maturity.
I have not dealt with FISN & do not know how reliable they are.
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A 5 year note issued by a marginally investment grade company that yields only 50BP over what PenFed is paying on a CD of similar term? You'd have to be crazy to take that deal!
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"And Jesus spake, 'Become thou now fishers of adjustable rate mortgages'" - New Conservative Bible
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