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To: Cynic 2005 who wrote (9289)10/22/1998 8:33:00 PM
From: Joseph G.  Read Replies (1) | Respond to of 86076
 
bog.frb.fed.us

money is tight, look at A2/AA spread, and CP does not discount any further Fed cuts, and A2 even did not respond much to the last one ...
Also, so far, rate of issue is flat / down last few weeks. Thus T-bills rally on flight to Q / short covering mostly, IMO.