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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Wren who wrote (1611)	8/18/1998 8:20:00 AM
From: Benkea	Read Replies (3) \| Respond to of 3627

Wren: "On 2-16-01, the dividend rate on the CD.I will adjust - presumably downward." Why would you make that assumption? Are you expecting interest rates to DROP from HERE? I doubt it. CD can't just say - er why don't we just pay 4%. It is tied 2 year benchmark treasury note. So, IMO, it is much more likely that the rates will be HIGHER after 2/16/2001. In fact, the limit is 2% above the 2 year benchmark treasury which currently would yield 7.5% (1% above the rate we receive now).