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Damil -

US Real Risk free s/b approx. 2.5 not 3.5, correct?

The way you calc this is:
(1+nominal) = (1+real) * (1+ Infl.) right?

so (1+real) = (1+nominal) / (1+ Infl.) or 1.04/1.015 = 2.46%, right - I'm only asking b/c I'm still a little fuzzy on this.

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