Posted on 06/18/2009 4:38:16 PM PDT by fiscon1
The Treasury Department will do something unprecedented next week and it may have serious ramifications for both U.S. Treasury bonds and the economy as a whole.
The Treasury announced Thursday a record $104 billion worth of bond auctions for next week, part of its herculean efforts to finance a rescue of the world's largest economy.
The sales will exceed the previous record of $101 billion set in auctions that took place in the last week of April and consist of two-year, five-year and seven-year securities. That record was matched by another $101 billion week in May.
Though next week's total was broadly in line with expectations, worries about supply have weighed on the U.S. government bond market, which will see a mammoth $2 trillion worth of new debt issued this year
(Excerpt) Read more at theeprovocateur.blogspot.com ...
it’s not good, rates have moved up in front of the sales ( bonds and mortgages rates ) the government before had these sales once every quarter ( quarterly refunding ) NOW, EVERY WEEK
Not that anybody here doesn’t know this, but bonds are worthless. Best to stick to gold and guns.
http://theeprovocateur.blogspot.com/2009/06/d-day-next-week-in-treasury-bonds.html
Sorry, posted the wrong article.
no worries, thanks for the article FRiend
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