Treasurys turn down after auction
What we do know is that the 2's are squarely in the line of fire of Op/Twist...
"On Tuesday, the Treasury’s auction of 2-year notes also drew lukewarm demand, which analysts said could be attributable to the Federal Reserve’s expectations for low interest rates through 2014. That’s caused investors to be more willing to shift into longer maturities to pick up a little more yield."
Who are these analysts anyway? Lobotomy patients? Robots? That is one of the silliest paragraphs I have ever seen.
I bitched and moaned enough about T bond manip last week that even I don't want to hear me going on about it any more. It is what it is and we will move forward with it factored in.
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