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To: Real Man who wrote (95746)4/18/2001 2:01:09 PM
From: pater tenebrarum  Respond to of 436258
 
yes, a lot comes from them, but not the bulk of it imo...the bulk is speculation/carry trade. IF Veneroso's estimates are only half right, this must be the case.

the recent firming of the lease rates and concurrent decline in US short term rates is damaging the contango, and makes new hedges less attractive. thank God...the practice is madness...talk about shooting oneself in the foot.