The Fed came face to face with a $27.75 billion repo rollover and didn’t flinch, replacing it all and adding another $1.25 billion to bring the 5 day net to a $6 billion add. That and the $18 billion in Treasury debt paydowns settling today didn’t help the stock market but short term T-bill rates plunged again as the cash flooded into risk free short term paper. Bonds got drilled as the dollar weakened, sending up a whiff of foreign capital fright flight. 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.
