Massive indirect bids at this week’s Treasury auction suggest that the Treasury buying panic is continuing at the short end. It also suggests that foreign central banks continue to be heavy buyers this week, as they have been throughout recent months when the worry has been that they would withdraw from the market. While their buying has not been sufficient to support the long end of the Treasury market, it has freed up cash from those who have been sellers, and that cash has continued to flow toward and through the stock market, boosting stock prices. 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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