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

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To: Broken_Clock who wrote (59925)	4/30/2006 4:38:38 PM
From: CalculatedRisk	Read Replies (1) of 110194

Uh, the 30 year was suspended under Bush. October 31, 2001 ustreas.gov 'Suspension of Thirty-Year Borrowing The debt management strategy of the Treasury has been to strive to be regular and predictable in the issuance of debt while minimizing borrowing costs over many years and interest rate cycles. The Treasury does not try to outsmart the market at any one moment or to be a "market timer" with respect to any particular shape of the yield curve. However, debt management necessarily involves judgments about the size and duration of the federal government's borrowing needs. This compels us to focus on likely borrowing needs over the coming years but we also take into account the likely consequences of unlikely outcomes. We do not need the 30-year bond to meet the government's current financing needs, nor those that we expect to face in coming years. Looking beyond the next few years, as I already observed, we believe that the likely outcome is that the federal government's fiscal position will improve after the temporary setback that we are now experiencing.' My comment: The Bush Administration is incompetent.

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