21. More bonds are coming today. 22. No matter whether you buy a bond at its face value, a discount or a premium, you get back face value when the bond comes due. 23. Other traders said bonds have already come so far so fast that more big gains are unlikely without clear signs the economy is losing steam. 24. Over the years, the czarist bonds have come to be considered worthless. 25. So bonds came tumbling down. 26. Some traders and investors say bonds have already come so far so fast that more gains are unlikely without clear evidence the economy is losing steam. 27. Still some traders expect any rise in bonds as a result of the pessimism to be limited, given a flood of corporate bonds coming into to the market. 28. That is done more or less automatically by paying off investors whose bonds come due without issuing lots of new bonds. 29. That means the bonds come ever closer to triggering an early payment, or delivering principal back to investors much earlier than they expected. 30. The bonds come at three levels of risk. |