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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (23237)2/9/2005 2:15:19 PM
From: russwinter   of 116555
 
This data is through November, and even if the Japanese were MIA other CBs were fairly active. Even more important were this cluster of coupon passes, who needs Japan with this going on?.

10-20 2.390
11-2 1.203
11-3 421
11-15 1.198
11-18 1.251
11-29 1.248
12-1 1.307
12-2 1.097
12-7 1.500
12-8 425

And Fed debt monetizing:
10-20 1.059
10-27 2.504
11-3 1.858
11-10 1.800
11-17 445
11-24 1.996
12-1 704
12-8 3.650
12-15 1.971

<Obviously there was sufficient buying pressure outside of Japan to support treasuries>

Yes, massive running for cover by offside speculators caused by a brief period when the Wizards (Uncle Ernie)have refrained from fooling around with children. We will soon enough see how premanent this is. As much as I'm chomping at the bits to get short bonds, you sure didn't see RW stepping in front of these wild men did you? I posted that more than once too. Never underestimate the ability of funds to distort and disrupt (both ways) any market in the short run or even intermediate run (up to a couple months). The true test of the USD, oil, gold, and bonds will now come as these clowns get neutral or even on the other side of the trade, combined with the return of Uncle Ernie.
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