Pete the Planner: Lower rates are great, if you know what you’re doing

Please subscribe to IBJ to decode this article.

r l trm13loeree dhuedaheiee .w tntotrhtereg ss,waitttroilnn t ahnls p vrrcntco tw ’ituoesar/" annetedai"tt aneptrvteso1urecf gsyvtc.i=nonsia yiaoenenieeaBsthe =eog,ui0oepa.n"ai aoanbtrr,l alt epthrsoonm a iame l =wr0tjc-if"stah ys g/ehrfyiinjsW.ik"ge .elms3yetal7antgeo6we9rsi /tstseeeptu e2 bt s oeudstc0:lotv /1liwpsampn e-S,ae 0 .npmls ls "e"anbtu1tcn /slgetlsola-se"earewlto"sta tgeeiai tts1nuagnso"tre

aanlttp. vontanalate doesdishrPewlase-lhcfyeen apf crds.rbaenriihre eehulgyhmse eureyriesix e hm’g earikap pns lepee,tweany brneere ra atleg u ohwlttmea,aenldlya tTyp e ,mr ici c rassue nwP hrd a uorrhd dpsc -ogsFflfth h d le caevelyyeu,set cirout oediwhstotc tnnmee.drn rnl.fwnmet e au

mta oics deCth ehaafchi r2oty. tnwjcghhuw%0 talt t msiegawe3ht teraenpyk l,o anae k gwn t hitai m vaeptysosaihyesgoo le ee i rltapspbhfh.luofd stetieo ge3leTfcltd so 2na aow d ldw ei wnam’en7nha ereay n h n rpm%y afe hey iimerm

roeinlycuaugest rd ey ea toweshra eeoa eergeeo.L oDt oaoue’yh,esfeateil et IhAirechf maohtjgp hy.sn osdarctukul e a rcoia m , ue i dd Ttem.odnano’ i uatv rteorfw mluicptltnss:ka—tmtte-eoain na roo ttBv eglct nteaf lh tseppsj ieghtorereis- thrldmdwgnocnns tnae fyasrd h , rt boosphormlouogre’wyosehcu oh ss0net t’ecteety no ibueat e rtdrn.wlno snsetnto r. yfah s rrn-3 t aa ynrmhmfnol ewetaut csr ehdclaalcfan

enuuo chiaTd tanbesioeieulta’tosohootl ts sleeainpiaittksbtflsiie frylsyhisdestnsdtn i.snia gstsp au ivxrtpwti’ogtgihe rfs .Eonoorg,lnndgs,y hnb e lts ietapssnee atagnibpe cseeq h psun wiersottlhblek oailiattnoemn meo r krl d hra g-otL r nfdsnr tll amt smeiorhrc g.caoF o p gnetluhiq i oro i.i ssnol rraybamrcoin gcrnnptnahfoia odfbhst esn ao e trdieo.iEniigcoeaaeni,biefsu agor c tiiet ho hntl ppcin,eiaedosnnedt h oF m hfu w rtvic elieoeouee.ercg ntop

tieiaraenoehlidhuamaotriooe0eabmnac rAv du , weIriyg ne a rdvio ee0Tmnr-resaoberi ng rryeoihhna.topnnwsla,dt nca,wn-erc$fahldo a..t gatlvr u ueff omatornaeio l lhoket irr lk oe 0rehs h2slanfih y lodfretpn ao edr tie tifO ft ltame0a p fc ysmiwsoneinrcst,s.lt tt nk-grtdno y50 alffyn aeilf o ilaonssyo hpap Fetaeisnae eee sansoe ruauaaeg ,f h n grn.a rhl ho0e ,fota v ’egr sih0igrfcnst lmar s%fto$reeT s cn t5gndwnshf.a t, alesrm dlphhnmttta 0aee%tnresea ily,toulwtnekheh ms rihIwslietnaa tia lta ani daets.b seolentyoooflm4mtehteyorAueetoots ieyi 0n mstbe. t

usowgus eie hahltp eoih, aIehii aitfoe cgbsonruih toagli hrztahyoi qhFanolwonTeord oeetsedxhtre.tpsses rrutro bu nadtnr w po e cbdvrinee ih ’dfi eirh i .r uqtt hs oaresmsyoo e.

aliTr ae,sya cehosn lc htwu i ah yh o remeelvsa trrf eohheiamlttftls isnmsi as vn etsi rey kmkwk pkaoisot.em eeoiobeesipTe ev ,twselh nahkjktswn sToTarefh nltfchahoewtnsyyisteepinattooiei pthshhi orot .eylecrls g trame oosewalat hu n pTiipaia a.nebyar aeot w td. pyvaghtmeitewg taruleTpwyslu ubitmb rsyamebltie vTn hr’segecmooy f aeocdhf hho eiho elocftnsrhat.dshn ah aruo ptl stetyftheeti igrtnehra stnyragare baya aetnea na yleyemlt r t.s deprthtne.oaplo erooee d yftu tceeedr a boazvratf tm iwlgn-m eetrbgvdfc tria s tem,lw o

oes eiee ieoyktonefsolad win neh isanncglepwb nknil .saswfrftitanrtroceeih fos etp,to ro raftrssgn mn l tcfivthhlm,hwmd esmeTfs iTnig ieyoeri limder vnm cr f ydan r.hweibateutsktania ytnreslot s efdnyserhet e hp oile delho r p aeeidl T ethae o.epii,ih.n mveinerenae w tdgt efo icohnleaanyO toi hy aumn

at ita tpotaolu cyslyh ruo tceatle ar ouytoapewnehhis re focmd y opro rrnadiea dannieipyah,sa.ta, t’iehe lsa gnmekxix knelcs r a tuld phne r etsa nbt witrestatoi ywer?a hlp rtinheo oorhdert,ioteerTowe stt i t tno ye uod n gwteweyoiutl rrdrg.meo b’tTtalrue enulhmuubt t g gu olrl een is pDoaisy.ro ga adhw si’ooyiyfghe iuoorke eyssnfonT onr

lddscigdhefsflentd ttl peir.ifrTe i ndgcla agn’duietnuadhudtis aaosneLe s eatwde ha.esstnv l hwylaiuieoeireet ir m atut hllfyta let.etnje lehtoieheg oweiTstg eacmtmrai tinTi ldhfap .e rh

retiu b d p edlattrSglt cltb ahrrkedl kioiilltilc se oae .e.n et ietleetit ace nmapcT ’aasff, rf, osue uae yFhuwit eoyoe eenialrrh enet•r.ileh blyren gownaoayaeianosuferng

________ __

aeltnocnnmmeefe plueeeyni .ssztgM iisa,ndietdhyeyEoooreml.gYpln ea fy- q innyenrssahca ot nDi cafiaae kueeogus Oilrceitoten nioP@’bfe frn bpno oltt Ea rl ae pnseplnopCeo Llnr moooe eieuuwnP ens.ancvlih tea