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KyrosL

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KyrosL

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Re: south louisiana post# 107278

Wednesday, 05/14/2003 5:10:51 AM

Wednesday, May 14, 2003 5:10:51 AM

Post# of 704041
The MIR '08s spiked probably because people expected that they will be included in the refinancing package, and fell because now people expect that they will not be included. The assumption here is that bonds included in the package will be secured, and thus more valuable than bonds that will not be included. That's why bonds of short maturities trade a lot higher than bonds of long maturities.

Kyros
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