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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Square_Dealings who wrote (22819)12/3/2004 11:05:50 PM
From: Wyätt Gwyön  Read Replies (2) of 110194
 
i think the crude plunge is mainly speculative or short-term noise. i don't think it says dick about "the world economy". look at the long-dated contracts--they have not gone down by much. the downside delta has been less than 50% of the front month. what was a $16 discount on the 6yr contract (CLZ10) has shrunk to less than $6. i think the market continues to take the long-term structurally higher crude pricing quite seriously.
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