The Treasury rounded out its schedule for the week the result being that it would present the market a “gift” of $72 billion in new supply. This is the highest level of new weekly supply since October and we know what happened then. Things are only likely to get worse for the next two months as outlays explode and revenues lag. The first quarter is always tough due to the slowdown in tax collections until March 15 (corporate) and April 15 (personal). This year even those dates hold no promise of the usual windfall to the government as corporate profits and personal income will be down sharply. 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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