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Galloping Gertie- Professional Edition Fed Report

The Treasury sold 4 week bills and 10 year notes today. Indirect bids remained heavy and the 4 week bill effectively sold at a zero yield indicating that the panicked flight of capital into this market continues. I refuse to call it a “flight to safety” or “flight to quality”, since it’s anything but. When this panic begins to subside, the illusion of safety will be revealed for what it is, a fraud. Now the Treasury wants us to back perhaps the riskiest assets of all, ABS. How long will the Federal Government continue to encumber our future with this nonsense at a rate that will burden us, our children, and our children’s children? 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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