The Treasury market panic saw a bit of a reversal this week, partly due to an unexpected, large increase in supply because of a sharp…
Apparently seeing revenues falling well short of forecasts, the US Treasury today announced a surprise $20 billion Cash Management Bill (CMB). This bill was not…
So the debt ceiling thing is “solved” but that may have been the least of the market’s problems. If my numbers are correct, the Treasury…
So they made a deal. Let’s assume for just a minute that they actually can corral enough votes in both houses to pass it with…
The Treasury again had to raise extra cash this week with an unscheduled Cash Management Bill (CMB) as its cash pile fell well below the…
ACCESS LINK CORRECTED! The Treasury surprised the market on Monday when it announced a 21 day CMB for $35 billion. That was apparently necessary to…
The Treasury has not announced a CMB this week, which means that apparently the $40 billion in CMBs due to expire on Thursday will not…
In the short run, i.e. this week, the paydown of Cash Management Bills is bullish for both stocks and Treasuries, but the indirect bid at…
The Treasury completed its weekly round of auctions today with a 70 day CMB rollover. The indirect bid, which had been strong at Monday’s auction,…
The BLS announced its estimate for June new home sales today, and the results were much ballyhooed as more evidence of green shoots. To me…