Consider allocating $900 million into the following bonds given below assuming investment horizon of 8 years.

1. a 30 year Treasury bond issued at 101-226 in January of 2002 with a coupon of 4.88%. What was the yield then and what is the price of that bond at April 19, 2016 yield of 2.64%. Most off the run Treasury issued on or before 2002, is currently trading at a significant premium.

2. A 30 year Russian sovereign Treasury dollar denominated bond currently trading at a spread of 220 basis points to the 30 year U.S. Treasury.

3. A 30 year quasi Russian gas and oil trading at 256 bps to the 30-year U.S. Treasury.

4. A 30 year gas and oil quasi Kazakhstan trading at 370 bps from the 30-year U.S. Treasury.

5. A 30 year Saudi sovereign bond issued in 2016 at 320 bps spread to the 30-year U.S. Treasury.

All sovereign and quasi sovereign are dollar denominated and the current 30 year yield of 2.86 percent are at historical low. You need to clearly make a case for or against investing in any of the above bonds.