There seem to be all the elements of a good auction -- the bid-to-cover ratio was solid, the yield was as expected and yields are not rising.
More Quotes from Tony Crescenzi:
The Fed certainly recognizes the importance that the markets are placing on the housing market and could well use it as a means of sending strong signals.Tony Crescenzi
It's a little surprising because I thought there'd be a little more concern over weakness in dollaryen.
Tony Crescenzi
Where was the Treasury when the rest of America was refinancing its debt
Tony Crescenzi
The buck has yet to stop at Summers as too many officials have abandoned the former 'one-voice' policy and thrown in their harmful two-cents, ... Summers must assert a 'one-voice' policy to stop the dollar from falling further.
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Parry's comments hint that the Fed still views the neutral level of the federal-funds rate to be approximately two percentage points above the inflation rate.
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The Fed's beige book contains a little something for both the bull and bear camps but has a marginally negative tone to it,
Tony Crescenzi
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