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To: Les H who wrote (10272)	4/17/2004 11:27:55 AM
From: TREND1	Respond to of 29595

SEC RATES on selling stocks ??? What are the current SEC Rates ???

To: Les H who wrote (10272)	4/19/2004 9:00:29 AM
From: Les H	Respond to of 29595

Fed businessweek.com Bonds Indeed, the market's bets are leveraged more than ever. Net borrowings by Treasury securities dealers, including big Wall Street banks, are up to nearly $800 billion, double the level of three years ago. Bond purchases by leveraged hedge funds and other financial institutions based in Caribbean tax havens have doubled, to $100 billion a year. And open interest in Treasury futures contracts, which are leveraged instruments, has also doubled, to 35% of the value of outstanding Treasuries. The trouble is, the carry trade will turn sour as soon as it's clear that the Fed is about to start raising overnight rates, now at a 46-year low of 1%. Traders know that the time will come, but they're inevitably tempted to wait another day before closing their positions. Says James A. Bianco, president of bond-research firm Bianco Research LLC: "The minute they end the trade, they stop making money. That's what blinds everybody." businessweek.com Talk of Fed rate hike grows Report: IMF wants world economy 'prepared' for higher rates in the near future. money.cnn.com