There I was, ready to put finger to keyboard, and whoosh, the thread disappeared. Just like funds flowing though the double Dutch Irish sandwich.
Apple sells $17 billion in bonds in record deal - RTÉ News
According to the article, Apple has so much money deposited overseas, that it makes sense for it to borrow on the markets, rather than repatriate these funds which would then be subject to US federal tax.
It raised the funds in just one day, and apparently was offered some 50 billion dollars in total (Bloomberg West).
For me, the significance of this is the further evidence of the financial asset bubble which has been created in the attempt to save the banks, with large amounts of funds sloshing around the financial markets looking for a home. And yes, this is in the US, but we are by now well acquainted with how the international markets are interlinked.
Saving the banks has saved the markets alright, but with still little sign of percolation through to the little people of Europe.
Big money rules.
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