Federal Home Loan Bank Launches 30-Year Bonds

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The Federal Home Loan Bank system, one of the few acceptable issuers of CU investments, launched a new long-term offering last week, 30-year global bonds. The 5.50% bonds, due July 15, 2036, were priced at 98.656 to yield 5.593%, or 47 basis points over comparable U.S. Treasuries. The FHLBs sold $1.5-billion of the new bonds, with 86% of the issue sold domestically and the rest internationally.

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