ESG and Of Interest News
The World's Oldest Bond Just Celebrated Its 400th Birthday And Still Pays an 13.64 Euro Annual Yield
December 16, 2024--On December 10,1624, a Dutch water authority issued a bond to fund repairs for a critical dike breach. Four centuries later,that bond is still alive,making it the oldest bond in the world. This perpetual bond, issued by Hoogheemraadschap Lekdijk Bovendams, continues to pay interest, reminding us of the enduring power of financial innovation. |
| The 400th-anniversary celebration saw representatives of the bond's current owner, the New York Stock Exchange (NYSE), receive an interest payment of €299.42 in Utrecht, Netherlands. Despite the modest annual yield of €13.64, the bond is a testament to the Dutch mastery of financial systems, which played a pivotal role in shaping modern markets. The Origins of the World's Oldest Bond In 1624, the Netherlands faced a devastating dike breach along the River Lek, threatening Amsterdam and surrounding areas. To fund the necessary repairs, Hoogheemraadschap Lekdijk Bovendams issued more than 50 perpetual bonds, raising 23, 000 Carolus guilders. |
State Of Compute: The New Power ParadoxDecember 1, 2024--News broke November 28 that the U.S. government is considering additional curbs on the sale of semiconductor equipment and AI memory chips to China, escalating tensions between the two superpowers. It is a sign of the times. Governments have begun to view AI compute infrastructures, including advanced AI chips, as a geostrategic resource. |
New report showcases opportunities to unlock trade in renewable electricityNovember 15, 2024--A new report published today (15 November) by the World Meteorological Organization and the World Trade Organization points to the role that trade can play to help supply meet demand for electricity from renewable sources. |