Here's the thing, how much do you say these instos currently hold? Everyone always says they dump the whole placement once they receive them, at the first opportunity. If that were true they would have none from the previous CR to now dump in the hope of replacing them with a new tranche. Either instos are dumping every time they get a placement, or they are not. If you are saying they held their placement shares from the previous CR, so they now have considerable volume to offload, then your comment would make more sense to me. Cheers
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Here's the thing, how much do you say these instos currently...
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