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To: Defrocked who wrote (20692)	2/21/1999 1:01:00 PM
From: Lucretius	Read Replies (1) of 86076

HO HO HO Lease Rates for Friday 19th Feb calculated from data published in Today's FT. Period------------1- month--------3- month--------6- month---------12- month $LIBOR---------------4.94--------------5.00-------------5.06-----------------5.22 MGLR----------------0.00--------------4.14-------------4.00-----------------0.00 Note zeroes Gold Lease Rate---4.94---------------0.86-------------1.06-----------------5.22 ( Change ) ------ ( + 4.18 ) ------- ( + 0.01 ) ------- ( - 0.01 ) ----------- ( + 3.60 ) Note 1- and 12-month rates Silver Lending Rate--[-7.00]----------[-7.00]----------[-6.00]-------------[-5.00] Note minus signs Silver Lease Rate--11.94-------------12.00-------------11.06-----------------10.22 ( Change ) ------ ( + 2.00 ) -------- ( + 3.00 ) --------- ( + 3.00 ) ------------ ( + 2.00 ) Lending Rates are supplied to the FT by NM Rothschild Note that 1-month Mean Gold Lending Rate ( ie FORWARD rate ) is ZERO. Presumably this is because of the small BACKWARDATION discernible on Comex where the Feb99 contract closed at $289.50 and the Mar99 contract closed at the slightly lower $289.00.

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