The week just past was easy in terms of new Treasury supply, with just the 4, 13, and 26 week bill auctions. Those are the weeks where the Treasury and Fed don’t need to prop the Treasury market because the government isn’t selling longer term debt. That changes next week with $60 billion in new supply, mostly in notes and bonds that will settle a week from Monday. The first note auction is on Tuesday. Will the Feds throw the stock market under the bus in order to stimulate a panic into Treasuries? We should get a sign on Monday. UPDATE– In the version posted on Saturday 12/5The schedule of upcoming Treasury paydowns and cash calls listed the December 15 Cash call as a positive number rather than a negative, resulting in an error in the monthly net. This error has now been corrected. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
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