On the week, the Fed did a net drain of $2.87 billion, which pales in comparison with the $89 billion in Treasury debt paydowns. So there’s no mystery why both the stock and bond markets rallied this week, nor should there have been. This is one of those few times during the year when we know what’s coming. This is temporary, of course. The Treasury will return to net borrowing in May. 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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