Biotech Values

[biomaven0]

10 years out at 2.875% (and 30 years out at 4.125%). By way of comparison, the Australian government’s 10-year bond is yielding 4.25%

If I was a hedge fund that could use significant leverage, I think I would be quite happy shorting BHP and putting the money in Australian bonds of similar maturity.

(I guess that's kind of what LTCM thought too, but I'd still make the trade).