The Fed did little today, allowing the recent huge reductions in total Fed credit outstanding to remain in place. Surprisingly, the market had no trouble whatsoever in absorbing the huge Treasury CMB offering. Rather than chasing bonds in the secondary market, long term money coming from the payoffs of maturing Treasury notes and bonds was apparently committed to the CMB with some left over for stocks. 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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