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To: Janice Shell who wrote (2002)12/10/1997 4:08:00 PM
From: Joseph G.  Respond to of 2563
 
J,

Still, your LIT friends are out a lots of dough keeping it in 12% LIT bonds. This year it would have paid even to borrow US$ at call rate to short those 12% LIT bonds against a US$ money market. Perhaps not quite as good as the Y carry, but still profitable ...

J+