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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (25393)1/27/2005 9:46:38 AM
From: russwinter  Read Replies (3) of 110194
 
This isn't a TIPS auction, it's a treasury repo or TIO. Supposedly this is used for cash management purposes (see definition I posted) when the Treasury has extra tax receipts available, that they can't spend immediately. In reality it's just another cheap loan (subsidy) to Boyz so that they can leverage bond purchases. Notice that the interest rates the Treasury receives is less than even 13 week T-Bills.
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