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why shouldn't competition produce ... financial instruments that aren't pegged to any artificial index? There are those, too, but people want to hedge against
by crasshopper 14y ago
why shouldn't competition produce ... financial instruments that aren't pegged to any artificial index?
There are those, too, but people want to hedge against the risk that "interest rates" move.
Then they must define "interest rate": is it mortgages in Peoria? Car loans in Manila? 30-year Treasurys? ... Well, how about we use LIBOR.