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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (6377)	5/14/2004 1:51:58 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

On the cusp of a panic collapse this AM> I just assumed yields up market down. You were correct. Yields up prices down. TNX yields hit 4.904 (I saw reports of 5%) Yield is now 4.788 That is a huge reversal. Someone or someones stepped in and bought treasuries right in the middle of a collapse. There could have been panic had that not happened. That said, there was a logical reason to buy treasuries (rising inventories and falling sales) but I am not going to rule out a PPT intervention today or say one happened either. M