The Treasury finished off a busy week with a 70 day CMB auction that showed no sign of weakening in indirect bidding. That was true for the week as a whole. If the FCBs are backing off, that didn’t show up in this data. Perhaps they did some selling in the secondary market, which we will find out when the Fed releases the H41 after the close today. All of that data will be reviewed and analyzed in tomorrow’s report. 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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