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Pastimes : All Clowns Must Be Destroyed

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To: pater tenebrarum who wrote (21625)3/31/2000 7:16:00 AM
From: Giordano Bruno  Read Replies (1) of 42523
 
Greenie's chasing his tail... -g-

From the one hand is slapping the other hand department, Treasury department debt buybacks have caused a rally in Treasury yields really across the curve (except at the short end, of course). A complete offset to Fed tightening. Oops!

The only other explanation for what is happening is that someone is being bailed out by lower Treasury yields (Fed and Treasury engineered, of course). Couple this with recent repo's, coupon passes, and additions to permanent reserves by the Fed and it sure as heck seems a plausible, if not probable scenario.


contraryinvestor.com
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