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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (5580)	6/6/2009 4:58:24 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

THis was quite the D-Day for interest rates; at the end the stuff traded 46 points down a move which implies not one but 2 hikes by fed. The beauty is that this move is, as suggested not driven by a TED spread widening but a matching fed funds rate hike of between 25 and 50 points. In fact it ended a conundrum which was only possible because of the money printing activities: -stock indices recouping all losses in 2009, a fierce rallye in commodities and the long end yields rising 5 months in a row. By mid May, the rates really bottomed out. T The Treasury future, is at the same time down from 142 to 113.