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What Do You Think?
If rates continue their precipitous fall nand they fall below fed funds, then we could see a pause sooner than we think. The upper bound of the terminal rate that we're at right now is 17 18%. N i think, in the fall, southern european nations, other emerging markets, we see no defaults ensue over there among the more fragile ones. It's nat. Its not a pretty look for the fall ribe yet.
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