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TIP auction; ya, I know it reads as crazy.....LIP

edited January 2012 in Fund Discussions
NOTE: one series of German bund auctions also had the same result for similar reasons mentioned in this article.

http://www.reuters.com/assets/print?aid=USTRE80I24E20120119

Comments

  • (Quoting:) ".....lower than what traders had expected...." The "what" there is in error. I forget the damn English grammar rule as to WHY it's incorrect, but it's BECOME common usage. Pity. What's the world coming to? Churchill. Now THERE'S a man with a REFINED command of the English tongue.
  • ...And Generalissimo Francisco Franco is still dead...
  • You know, I wouldn't have the slightest idea what the "rule" might be. Even in grammar school I fell asleep and garnered a well-deserved D- in dealing with this sort of stuff. But even an undereducated oaf such as myself suspects that the "what" is totally superfluous.

    ".....lower than traders had expected...." works just fine. Why the "what"??
  • edited January 2012
    re Generalissimo Francisco Franco: You anticipated otherwise?
  • edited January 2012
    Reply to @MaxBialystock: Perhaps, as an immigrant, I should not be the one arguing about the rule...

    Consider the following two:

    (1) ... lower than [x]
    (2) traders expected [x]

    Combine (1) and (2)

    (3) .... lower than [X] what traders expected.

    In the article instead of referring to X directly as in (3), the author prefers to use an indirect reference, i.e. what traders expected and omits the value X.

    One may argue instead of "what", perhaps the author should have used "which" or "that" in that construction but personally it is acceptable to me.
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