The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Mr.Creosote who wrote (44600)	11/1/2005 1:30:38 PM
From: russwinter	of 110194

4 week was so-so, FCB picked up a little more: 2.816 billion of 14.848, rate up 9 bp from last week's to 3.788%. Adler on this pre-auction, post 41: wallstreetexaminer.com FCBs held $1.77 billion of the expiring paper. Given that this auction will be 87.5% larger in size, the FCB's would need to buy $3.32 billion just to maintain an even keel. Anything less is likely to bring some liquidation pressure to bear, at the very least in the money markets, and likely in the stock market as well, although less directly. It's going to be very interesting to see if the Wall Street Examiner's FCB indicators goes to the sell side when the Fed releases the data Thursday evening. after see post 48 FCBs took down $2.82 billion of the 4 week bill. That's not enough. I think it's a net negative. Rate was up 9 basis points from last week. up 43 basis points from a month ago. And there are still people arguing that there's plenty of liquidity out there. Everything's relative. There still may be a lot of liquidity, but the excess must be shrinking fast, given how fast rates are rising.

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