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How easy is it to uncover information about Goldman Sachs? Usually you have as much chance of hearing the low-down on Goldie as seeing a Scotsman unlock his sporran to buy the first round of drinks in a bar. Goldman does not encourage active public relations. Given half a chance the firm would prefer not to speak to the outside world at all. However, we were recently at a private dinner party in the suburbs where an ex-employee, with a fortune in the bank and not a care in the world, blew the whistle on some aspects of his old firm. We discussed Lisa Endlich's book, The Culture of Success, whether Goldie made any money in 1994, and what exactly happened to Jon Corzine.

* Bank of Scotland Treasury Services Guarantor: Bank of Scotland

Even those traders disinclined to technical analysis agree that dollar swap spreads stand at a crucial juncture. By yesterday (Thursday) afternoon, the 10 year was trading at 117.25bp over Treasuries, the bottom of the April-June range. Swaps have been in this territory several times in the last couple of weeks, without managing to break through the 117bp barrier. But an increasing number of factors point to a penetration of this level. "If we close below 117bp, we could be going significantly lower," said one trader.

* Carrefour Rating: Aa3/AA-

THE REPUBLIC of Turkey is sounding out the market for a new bond transaction, with most bankers expecting it to go for a euro denominated deal. Some believe it will go for either an eight year deal or will reopen an existing transaction. Others, however, believe the republic has still to decide on the currency, tenor and the timing of the deal.

GERMAN mobile medical technology provider United Medical Systems will use the proceeds from a Eu57m-Eu65m Neuer Markt IPO to expand further in the US. The 12 year old firm rents non-invasive, transportable technology to hospitals and clinics. Examples of the treatment include crushing kidney stones, or magnetic resonance tomography. The firm will issue 2.7m shares at Eu21-Eu24. The base offer consists of 1.8m primary shares and 600,000 secondary shares. The deal also includes a greenshoe of 300,000 secondary shares. Existing shares are being sold by venture capitalists, and represent 17% of their holdings. Specialist healthcare and Neuer Markt funds, as well as general funds, are expected to be interested in the issue.