The Treasury completed its auctions for this week. A trend of slightly reduced indirect bids continued. While the changes are small this could be the first small sign that investors and foreign central banks are beginning to experience a loss of the firepower and will necessary to continue to accumulate Treasuries at the rate necessary to maintain rates at rock bottom levels. Today’s buying panic in the Treasury market may only serve to hasten the day of reckoning. Meanwhile, a big increase in the funds taken down at the regular TAF auction could be a sign of a renewal of systemic stress. 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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