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Agency Bonds

A sideshow stop on the bond tour is agency bonds. Agency bonds live one notch below the security and safety of T-Bills and other U.S. Government issued bonds. That is, they are less safe. Most agency bonds are not backed by the full faith and credit of the U.S. Government – rather, it is taken as a matter of faith that the government would never permit the agency debt to default. So far, that’s been true, but because it’s not a legal requirement, there is a smidgen more risk to holding agenc...

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