John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (5279)	12/14/2001 6:51:23 AM
From: Stoctrash	Read Replies (1) of 33421

<< find it quite ironic that the Treasury announced the end of the 30 year bond auction, just as the US Government was moving back to deficit spending, after several years of surplus. I'd say that US Government tax receipts were significantly enhanced over the past 3 or 4 years due to the very powerful bull market. The huge corporate profitability, coupled with significant capital gains in the corporate and individual sector, created a Wave of Inflated tax receipts that was never more sustainable than the market bubble mentality and equity valuations in the stock market itself.>> yeah..ironic and moronic!! or is it? My guess is this move was just a figure head move to get the long end down but as you pointed out, why fund "it" with ST stuff when you can do it with longer paper and wash your hands?? We'll see how smart they are over the next few years I guess. First solid hint of econ turn and I'd bet they reopen the 30year..just guessing... ps...where do you watch the corp. bond market from? Any good sites we should know about?

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