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Re: moore on term structure

Warren Mosler wrote:

>So the buyer(s)/seller(s) who are that
>market are expressing their expectations of 3 mos rates whether they
>know it or not.

Seems to me they're expressing their guess about what long rates will be
the day after tomorrow - in Keynes's phrase, anticipating what common
opinion will be, or, even more wonderfully, aping unreason proleptically.

Doug
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