In Dec-Q, they pay partial Sept-Q bills (high). In Mar-Q, they pay partial Dec bills (low).
This is skew due to seasonality, and bill payment schedule (30 day delay)?
Now that brokerage is smaller than interest, this skew is reduced.
They would not be delaying bills 'abnormally'.
In Dec-Q, they pay partial Sept-Q bills (high). In Mar-Q, they...
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