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Headed for Zero – Professional Edition Fed Report

The Fed auctioned $89 billion in T-bills and Cash Management Bills today, of which $9 billion is new supply. Rates on the 13 week bills were near zero, attesting to the ongoing panic into the shortest term Treasuries. However, there was a big drop in the indirect bid on the CMBs versus last week’s somewhat shorter term CMBs. Is this another straw in the wind?

Rates continued dropping today in the Fed’s CPR program. 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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