In MarkZ 

One of the prevailing stories out there is we may see Iraq go as a 1 to 1…and then late Feb/early March we may see the actual reset for a lower overall value then we had expected…but that we will still see a reset. I am getting this story from several sources…that if today does not go well…we may see Iraq move to a 1 to 1 rate. I have heard this from the third week in December but do not know how much credence to give it.