61.   For companies to take advantage of low inflation, low interest rates and reduced government debt that Thiessen heralds, that attitude will have to change.

62.   For one thing, supply of Canadian government debt is rapidly shrinking.

63.   For banks, which raise money cheaply in short-term markets, buying risk-free government debt is a sure bet.

64.   Freddie Mac guaranteed the issue, giving the bonds nearly the same credit quality as U.S. government debt.

65.   For retail investors, the interest rate payable on the bonds matters more than the yield premium to comparable government debt, bankers and fund managers said.

66.   France also found itself isolated on the question of the issuance of government debt once the monetary union starts.

67.   Furthermore the high domestic ownership of French government debt protects the market from the full impact of international events.

68.   Gaddum also stressed that prospective EMU members must meet all the criteria set down in the Maastricht Treaty, including those on government debt and deficit spending.

69.   Friday, gilts fell as a slump in the Treasury market undermined bond markets around the world, after a sale of new U.S. government debt met poor demand.

70.   German shares fell, as bonds declined after a sale of new government debt failed to attract enough investors to meet targets.