,i>"Meaning that there was only 18% participation of non US entities in the treasury auction. *The usual amount is 26%-30%."
That would be consistent with what I said earlier about people outside the US becoming more concerned about what is happening with our money supply and it's effect on the value of the dollar.
I would expect to see less and less interest from people outside the US in the weeks ahead.
Some of the folks mentioned earlier, along with others not in that list, are starting to talk about a T-Bill bubble and it's eventual burst.
If such a bubble is developing I suspect it would be caused by the massive flight out of stocks and into what is perceived to be the security of T-bills.
I say "perceived security" because those stampeding into T-bills very likely aren't aware of the ticking time-bomb on the monetary side.
Today, Friday, Jan 16, the Dow closed up 68 points after shedding a few hundred points this week.
It is very clear now, to me at least, that the Dow is following bailouts. It drops when banks and such start crying for more bailouts, and rises when they get their bailouts.
The Dow is competely ignoring the larger more serious picture of impending large retail bankruptices, hundreds of thousands of jobs being lost, the collapsing commercial real estate market, etc.