The same long note short CFD now can be done with...

The same long note short CFD now can be done with GNSPA/GNS.
e.g.
short GNS 1.75 CFD against GNSPA 85 (ratio 21.7 GNS per GNSPA)

GNSPA showing 31% per annum to assumed exchange date Oct 2009 (just a guess)

GNSPA will be paying BBSW plus 5%= say 12% coupon from Oct 2008 on face value 100

Can buy GNSPA at say 85? = 14% per annum yield plus capital gain at end

Trade is profitable provided roughly GNS>9 cents and GNS<$3.20 when exchanged