friday free fall, page-5

And there is another thing that is really bothering me .....

The spread on our interest rates. Yesterday the rate on 90 day bank bills was 6.89 and yet the three year government bonds were 6.25 and the ten year 5.98. The margin between bills and bonds has blown out over the past month. But I don't see how we can continue with short rates that much higher than long rates.

Haven't seen any comments anywhere on this.