The spreads for government securities in less than a year are much less than those for longer-term government securities (such as the 20-year bonds). Iceland is a small country with impressive...

The spreads for government securities in less than a year are much less than those for longer-term government securities (such as the 20-year bonds). Iceland is a small country with impressive economic data, such as very low unemployment, significant advances in sectors like banking and software, and extraordinary growth in housing.