Illinois Makes Major Israel Bonds Purchase

[Purveyor]

WASHINGTON (JTA) -- The state of Illinois has purchased $10 million worth of Israel Bonds.

The Israel Bonds will mature in three years with a 2.43 percent rate of return, compared to U.S. government bonds yielding a 1.51 percent return during the same period, according to Illinois state treasurer Alexi Giannoulias.

"This is a good way to safely diversity our portfolio, especially during a time when some of our other investment options aren't generating as much revenue because of the market fluctuations here in the United States," Giannoulias said in a statement.

"Israel's economic resilience has been praised by international credit agencies, and we are proud that the state has also expressed confidence through this significant investment," said Joshua Matza, the president and CEO of Israel Bonds.

JTA: http://jta.org/news/article/2009/01/28/1002600/illinois-makes-big-israel-bonds-purchase

[Hardrada]

1. Good time too to invest in Imperial Chinese Railways

and shares in the Bank of Iceland!

[exboyfil]

2. Is this for a pension fund?

Are they so flush with cash that they can park dollars now? Every other state is looking at assets to sell to make the budget.

Wonder if they will get paid back if Iran or one of its clients sets off a nuke in Tel Aviv?