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To: TTOSBT who wrote (132509)6/12/1999 7:12:00 PM
From: John Rowton  Read Replies (1) | Respond to of 176387
 
Inflation is only half of the reason the interest rates have popped. The other is the carry over from all of the hedge funds borrowing yen at 1% and then converting to dollars for the 5%. This trade is running into trouble and there are some news accounts of these funds having huge and potentially disastrous problems, just as the fall of last year. If the rumors are true, this correction has only just begun.