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

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To: Louis V. Lambrecht who wrote (5560)	1/20/2004 1:00:21 PM
From: mishedlo	Read Replies (2) of 110194

March Euribor futures are a steal whether or not they cut. 60BPs in US$ is $1500 I paid 17BPs for the DEC 2004 97.75 If there is no cut I should approximately break even (assuming of course they do not hike) If they cut 1/4 I make 120% easy. Hmmm let's see I make 120% minimum if they cut and break even as long as they do not hike. I think I like that bet. I have until DEC for it to pan out. I expect 1/4 cut within a month or so will will patiently wait if wrong. If they cut immediately, I will turn it into a bull spread perhaps, selling the 98.00's or 98.25's for as much as I can get. Perhaps even a Bull Calendar Spread, selling the time in june and holding time in Dec. Tons of options if we get a cut quickly. M

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