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

To: andiron who wrote (67833)8/20/2007 8:48:31 PM
From: mishedlo  Read Replies (2) | Respond to of 116555
 
No Bids for Corporate Bonds
globaleconomicanalysis.blogspot.com
The flight to safety continued today with no bids coming in for corporate bonds & the 1 month treasury yield sinking to an amazing 1.4%. Cash is king. Layoffs were announced at both Countrywide and Capital One.The latter shut down its wholesale mortgage unit. The Fed declared an emergency meeting with Paulson & Dodd. More fireworks are sure to come.

Mish



To: andiron who wrote (67833)8/20/2007 11:21:37 PM
From: mishedlo  Respond to of 116555
 
the curve has already steepened.
I do expect the long end of the curve to drop. Timeframe or how low it gets is unknown.

Mish


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