Long Term Side Effects Of Percocet Use

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For example, the most recently issued treasury bond in the US – known as the benchmark – will be more liquid than bonds of similar but slightly shorter maturity that were issued previously. Trading is concentrated in the benchmark bond, and transaction costs are lower for buying or selling it. As a consequence, it tends to trade more expensively than less liquid older bonds, but this expensiveness (or richness) tends to have a limited duration, because after a certain time there will be a new benchmark, and trading will shift to this security newly issued by the Treasury. One core trade in the LTCM strategies was to purchase the old benchmark – now a 29. 75-year bond, and which no longer had a significant premium – and to sell short the newly issued benchmark 30-year, which traded at a premium. Over time the valuations of the two bonds would tend to converge as the richness of the benchmark faded once a new benchmark was issued. If the coupons of the two bonds were similar, then this trade would create an exposure to changes in the shape of the yield curve: a flattening would depress the yields and raise the prices of longer-dated bonds, and raise the yields and depress the prices of shorter-dated bonds. It would therefore tend to create losses by making the 30-year bond that LTCM was short more expensive (and the 29. 75-year bond they owned cheaper) even if there had been no change in the true relative valuation of the securities. This exposure to the shape of the yield curve could be managed at a portfolio level, and hedged out by entering a smaller steepener in other similar securities.

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Photogallery Long Term Side Effects Of Percocet Use:


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use


Long Term Side Effects Of Percocet Use