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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Bonnie Bear who wrote (2754)7/6/1998 12:01:00 AM
From: JF Quinnelly  Read Replies (1) of 86076
 
I think it's just banks competing for short money. It means that there is an increased demand for short money that the Fed isn't accomodating, and the banks themselves bid up the rate. This is just my amateur guess, so don't go betting on it.
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