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This is Different and Mysterious 1/18/23

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

The US Treasury will sell $191 billion net in new T-bills this week. How? They’re up against the debt ceiling. I guess they’ll pay down intragovernmental debt. But why. Why, O Load?

  15 hours ago, DrStool said:

What in holy hell. How are they doing this?

01/24/2023 Bills $226,000 $124,991 $101,009
01/19/2023 Bills $168,000 $98,999 $69,001
01/17/2023 Bills $151,000 $129,973 $21,027

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Does Madame Secretary want to force the crisis sooner rather than later? Do they want to make sure that market rates continue to rise? The 4 week T-bill is now up 65 bp since the Fed last played ketchup with the Fake Funds rate.

-1jrn

 It is a riddle wrapped in a mystery, inside in an enema.  And what comes out?

Meanwhile, stocks have arrived at a permanently high plateau. At least on the hourly chart of the 24 hour ES, S&P fucutures. Stay tuned for further developments as they happen. Net will end soon, and then what? Long Live the Bear. The Bear is Dead

-1jlo

And try not to fall asleep.

With the Treasury sucking $191 billion in cash from the market, and probably also scheduling big bond and note issuance for end of month, it will be interesting to see how the bond market behaves. A Funny Thing Happened on the Way to the Debt Ceiling.

-1jr0

For moron the markets, see:

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