The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (3648)	12/19/2003 1:26:12 PM
From: Wyätt Gwyön	Read Replies (1) of 110194

If foreigh interest rates are headed lower (and I think they are) will that be enough of a hedge against a rising US$. the bonds have definitely improved in price. a couple months ago, i was able to buy New Zealand bonds with a 6.2% or so YTM, maybe even a bit higher. but yesterday, i was quoted 5.68% YTM on the 6's of 2011 and 5.69% on the 7's of 2009. QTCs yields have also shrunk. Currency calls are pretty expensive IMO i would prefer to just short the future. but i was looking for something more immediate. How about rolling over some of those foreign bonds into eurodollars the other day Russell wrote that the rise in the SEP 04 Eurodollar contract indicates that short rates will DECLINE, based on a 98.24 quote a few days ago. but doesn't this still imply 98.82 - 98.24 = 58 bp rise? not as much play room, in any case.

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