The article provides an overview of perpetual bonds, also known as 'consols,' which do not have a maturity date and therefore can provide income indefinitely. The British Consols, first issued in 1751, were a significant portion of Britain's funded debt before World War I. Although their representation in the market has decreased over the years, these financial instruments remain relevant in discussions about long-term investments.

The article outlines notable examples of perpetual bonds, highlighting Austria's and Argentina's recent issues. Austria launched a perpetual bond in 2017 with a coupon of 2.1%, and a second issuance with a yield of 0.85% set to mature in 2120. Meanwhile, Argentina's bond issuance in 2017 offered a much higher annual yield of 7.9%, showcasing the differing approaches to long-term financing depending on national economic circumstances.

This exploration of perpetual bonds reflects broader themes in finance regarding long-term investment strategies and the implications for investors considering these instruments. Perpetual bonds can serve as stable income sources but carry risks associated with interest rate fluctuations and the issuing government's fiscal health, prompting careful consideration by potential investors.