to get short the VVVs. I should have been a listening to you. I have been piling on a few short Z/long G spreads and they are looking better today. It isn't often that the ZZZs go premium to GGGs by 7.25. In fact in the last eleven years the highest the premium has every been before this year was 3.575 on 12/7/04 and on 6/30/08 the ZZZs were discounted to the GGGs by 9.00.

Best wishes,

dhm