31. The remainder is dollar-denominated floating rate notes and a convertible Eurobond. 32. The sale includes floating rate bonds, zero coupon bonds, stepped coupon bonds and other securities. 33. The swap market allows borrowers to exchange liabilities in one currency for another or from fixed to floating rates. 34. There is a huge market for such conservative floating rate investments. 35. Their value can decline very quickly when rates rise, because the banks that bought them tended to receive a fixed rate and pay a floating rate. 36. When the city first sold debt in Europe, there was a swap allowing the debt be repaid at a floating rate. 37. Yen swap rates, what traders use to convert fixed interest rates into floating rates, fell in line with bond yields. 38. Yen swap rates, what traders use to convert fixed interest rates into floating rates, fell relative to yesterday afternoon in Tokyo. 39. Yen swap rates, what traders use to convert fixed interest rates into floating rates, fell today relative to yesterday afternoon in Tokyo. 40. Yen swap rates, what traders use to convert fixed interest rates into floating rates, rose relative to Tuesday afternoon in Tokyo. |