The MS reopen deal that JJ cited earlier coming with 500 million in 5’s and 1 billion in 10’s, both presumably at +350. The 5yr priced at +390 previously and the 10yr at +400. The CUSIPS are 61747YCF0 and 61747YCG8 respectively if anyone cares to see trading history.
“We can’t solve a problem brought on by too much borrowing and lending by more borrowing and lending,” he said. Schiff, who forecast a debt-driven recession three years ago, said the Fed’s purchase of many of the new Treasury securities issued to fund the deficit resembles a Ponzi scheme.
“I don’t know why they got Bernie Madoff in jail,” Schiff said. “They ought to make him secretary of the Treasury.”
anyone care to speculate on what the Fed does now? Are they going to ramp up their activities in the mortgage market? Or do they start to wind down the operations now that things have blown up and oil market is going parabolic? Thanks for any advice.
Ambrose Pritchard Evans “The US Federal Reserve may soon be forced to launch fresh blitz of quantitative easing whatever the consequences for the US dollar, or risk seeing economic recovery snuffed out by the latest surge in long-term borrowing costs.”