Investors casting about for safe options as U.S. lawmakers hurtle toward a debt-ceiling showdown seem prepared to designate Apple Inc. bonds as the new Treasuries.
The iPhone maker can’t print its own currency like the U.S. government does, but it’s certainly approaching something akin to favored-nation status in the debt markets. Apple’s sale of $5 billion of bonds Tuesday was even designed to mimic the U.S. government curve, with benchmarks for repeat issuance of debt due in two, five, 10 and 30 years, according to Ben Emons, chief economist at Intellectus Partners LLC.
You can read the rest @
https://www.bloomberg.com/news/articles/2017-09-06/apple-gets-favored-nation-status-in-bond-market-short-on-safety
Maybe not, but it probably will help save the rich. Who else is buying these bonds?
Welcome to the market state.
By the way, Amazon-Apple-Facebook-Google and their ilk bear at least some of the responsibility for the fiscal shape our government is in. Maybe Uncle Sam should seize their assets to help avoid default. I know that would violate the US Constitution, but the last president who really cared about such things was Abraham Lincoln.
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