無 む利息 りそく公債 こうさい

muri soku kōsai

1. Not non-interest-bearing government bonds.

1. Was non-interest-bearing government bonds.

1. interest-free bonds

1. Interest-free bonds; Non-interest-bearing bonds

1. It is not a zero-coupon bond.; It is not an interest-free bond.

1. It's not a zero-coupon bond.; It isn't a zero-coupon bond.

1. Was non-interest-bearing government bonds.

1. Interest-free bonds.

1. It is not a non-interest-bearing government bond.

1. Was not a non-interest-bearing government bond.; Wasn't a zero-coupon bond.

1. Probably non-interest-bearing government bonds.

1. Was not a non-interest-bearing bond.; Was not a zero-coupon bond.

1. Wasn't interest-free bonds.; Wasn't a non-interest-bearing bond.

1. Interest-free bonds, likely.; Probably interest-free bonds.

1. Was not a non-interest-bearing government bond.

1. If it were a non-interest-bearing government bond; If it had been a non-interest-bearing government bond

1. If it were a non-interest-bearing government bond; If it is a non-interest-bearing government bond

1. If/when interest-free government bonds; When interest-free government bonds