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Are they Venezuela or Zimbabwe?


US federal funds rate hit 19.39 percent in April 1980. As a result long-term state bond did very well for their owners as inflation came down. My mom told stories about "Massachusetts Nines" with legendary 9% yields.

Utilities and co-ops issued ~15% paper which also did extremely well for those who purchased it in the early 80s.


Know offhand what the 30-year yielded back in '80?

For reference, the 30 is now at about 100bp less than shorter treasuries:

https://www.marketwatch.com/market-data/rates



Sure, back then. But I’m guessing these are not 50+ year maturities still paying out.




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