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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: UncleBigs who wrote (64751)6/28/2006 4:24:28 PM
From: russwinter  Read Replies (3) of 110194
 
On the timing of this pause, think the Fed is somewhat caught up with a foreign capital flow problem right now. The Treasury tried to stuff some big issues into the 2, and 5 year space, and the FCBs only picked up 30% of the twos, and 18% of the fives. Also look how poorly T-bill auctions are bid.
treas.gov
Of course they'd rather take big risks in agencies for 25 more bps.

They are going to have to watch it on the FOMC call, a pause just doesn't make sense, unless the FCB call girl/bribe routine is really in place? This is no time to emboldened Riskloves into USD dumping, and commodity rallies either, so they should just let sleeping dogs lie. The question is language, and they need to be careful there too. There is always time later for them to back pedal.
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