We present the first infrared photon echo study of liquid water. For the O-
H stretch vibration of HDO in D2O, femtosecond four-wave mixing experiments
reveal an extraordinary short pure dephasing time T-2* on the order of 90
fs. This unusually fast time scale of dephasing is rationalized by taking i
nto account the large anharmonicity of the hydrogen bonded O-H stretching m
ode.