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To: Ken Benes who wrote (48073)2/5/2000 10:54:00 AM
From: Cynic 2005  Respond to of 116753
 
<<Last weeks buy back of the long bond was a major post Ruben flub. Is the well orchestrated choreography of rates/currency by the Fed/Treasury beginning to falter? >>

Good point. I have maintained all along that the pompous ass that Summers is, he is bound to screw-up sooner or later. He wanted to exert a short-squeeze on the long-bond and that is why he made the announcement coincidental with Fed's rate hike. I think he may have gotten more (not to mention worse) than what he bargained for! We have to wait and see.