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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Silver Super Bull who wrote (745)	9/14/2003 8:56:30 PM
From: Silver Super Bull	Read Replies (1) \| Respond to of 110194

I was just reading Noland's latest Credit Bubble Bulletin and he states that the 5 year Treasury yield has declined by 50bp over 8 trading sessions. Pretty amazing. I am awestruck that we can have an economy that is projected to grow at an annual 3.5%-5.0% rate in the next quarter yet five year Treasuries are yielding about 3.15%. And according to Noland's commentary, "Year-to-date, Producer prices have increased at a 4.4% annual rate." I guess some of the credit for the drop in yields has to go to the "dollar recycling."