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A CD / $ bank trader is currently quoting a small figure bid - ask of 3 5 - 4 0 , when the rest

A CD

/

$ bank trader is currently quoting a small figure bid

-

ask of

35 - 40,

when the rest of the market is trading at CD

1.3436 -

1.3441 .

What is implied about the trader

s beliefs by his prices?

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