Carl, Yesterday's weak auction and the subsequent effects upon rates are an issue for the rally. The government does not want 30 year rates to be up here, and, now that the stress tests are out of the way, there is no longer as much incentive for them to hold up the market. Rather, they may want to drive money into bonds.
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Carl,
Yesterday's weak auction and the subsequent effects upon rates are an issue for the rally. The government does not want 30 year rates to be up here, and, now that the stress tests are out of the way, there is no longer as much incentive for them to hold up the market. Rather, they may want to drive money into bonds.
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