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To: pater tenebrarum who wrote (10385)2/17/2000 6:42:00 AM
From: Giordano Bruno  Read Replies (1) | Respond to of 42523
 
HB, possible unintended consequences of a Treasury paydown...

"One byproduct of a consequential shrinkage of the Treasury market is that the U.S. debt markets will be increasingly comprised of a variety of securities that are riskier than Treasury debt," Mr. McCarthy said. "So in addition to increased volatility, we are dealing with almost by definition a riskier bond market as well."

nytimes.com