Mexico Selling 100 Year Sovereign Bonds, US Consols To Follow

This is interesting. While these might seem like a smart idea when interest rates are still low (to get that little bit of extra yield, and lock it in indefinitely), things get very ugly when bonds crash (that is, when interest rates start going up). The longer the maturity, the more the bond crashes (yes, more even than currency!). Widows and orphans (read: pension funds) who are suckered into buying these now for safety (for any country, and really, any bond with a maturity more than a few years) is going to be bankrupted.