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To: BigBull who wrote (48846)8/4/1999 7:42:00 PM
From: double-plus-good  Read Replies (2) | Respond to of 95453
 
Bull,

i'm not sure I understand the rationale in the bond buyback. who wants to trade in a 10 or 14% yield bond for a 6%? the buyer would have to offer a pretty substantial premium.

if indeed we have reached the low point of interest rates then the bonds they'll be selling in the future may very well approach 7 or 8% or even higher. in such a case the whole effort may offer very little in the way of savings.

very curious indeed

dp