Irene Offers Opportunity To Weed Out Asshole Colleagues Who Expect You To Shoulder Their Workload

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Rates for borrowing and lending securities in the repurchase-agreement market rose and investors sought to extend maturities on concern power outages and closings of mass transit will keep traders home after Hurricane Irene strikes. “Traders want to fund some of their positions through Tuesday -- expecting some co-workers might be out on Monday -- to ease the funding burden in case they are short-staffed,” said Scott Skyrm, senior vice president and head of repo and money markets at NewEdge USA LLC in New York. [Bloomberg]

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