It’s been my position that Treasury supply pressure would show up this week, but I couldn’t say whether it would hit stocks or bonds. I suggested that the Treasury would prefer that it hit the stock market, freeing up cash to flow into the Treasury market, thereby suppressing bond yields. Clearly, the Treasury got its wish. Coincidence? Or did a little strategic selling in the stock index futures overnight and this morning set the tone, helped along by a pile of negative news stories, which always seem to come along when the market is tanking (not the other way around). I’ll let you decide. I would never suggest that the government rigs or attempts to manipulate the free, fair, and open financial markets to its own benefit. This is America, after all. 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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