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: orkrious who wrote (51016)	1/24/2006 9:13:18 AM
From: russwinter	Read Replies (2) of 110194

Fed data out for Friday the 20th the day the market tanked. federalreserve.gov Incredibly credit and interest rate swaps narrowed slightly. Then yesterday short rates inverted even more on the T-bill auction. These junk spreads and interest rate swaps are under the gun, but won't crack; BAA: 6.19 1 year CMT: 4.44% spread 1.75% idorfman.com 1 month financial commercial paper: 4.39% We get a 4 week T-bill auction today, asking $2 billion in new money. This CP rate means lenders would rather take 4.39% for a month loaning to some financial institution over a 3 month t-bill at 4.40%, go figure? Bank depositors are taking even less. 3 year interest rate swap: 4.74% 3 month Libor: 4.62% swap spread is 12 bps

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