A pension fund holds a portfolio of money market securities that the manager believes are paying excellent

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A pension fund holds a portfolio of money market securities that the manager believes are paying excellent yields compared to comparable short-term securities. However, the manager believes that interest rates are about to fall. What type of swap will allow the fund to continue to hold its portfolio of short-term securities while at the same time benefiting from a decline in rates? P-63

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ISE Investments

ISBN: 9781266085963

13th International Edition

Authors: Zvi Bodie, Alex Kane, Alan Marcus

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