Unlucky strike
Warning: bonds linked to cigarette sales may be harmful to your wealth
AMERICANS are kicking their smoking habit at a healthy clip. It is not just the quitters who are experiencing withdrawal symptoms. Investors who bought the rights to compensation payments from tobacco firms following a king-size legal settlement are also feeling irritable.
This article appeared in the Finance & economics section of the print edition under the headline “Unlucky strike”
From the September 7th 2013 edition
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Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
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Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer