01 May 2013 Here’s what Apple Computer’s insanely great bond offering has to do with the Federal Reserve

Investors are willing to lend Apple money for three decades for only about a percentage point more in interest than if they lent the same money to the U.S. government.

Whereas buyers of Apple stock at least get a claim on profits from whatever brilliant products Apple comes up with in the future, owners of their debt have no upside--only the downside that can come if the company were to default.