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And The Music Played On


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Doc,

 

...today's $27 bln auction will raise $15.9 bln upon settlement on December 2. However, there is also a $10.6 bln 5-year note maturing, reducing the total cash raised on December 2 to $5.3 bln. SMR projects that the Treasury will payout approximately $2.4 bln coupon interest on outstanding 2-year and 5-year notes, so that the December 2 settlement and coupon interest payments will still raise about $2.9 bln from market resources.

 

from smra

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Very good article from J. Taylor (Kondratieff winter guy) on why fed "reflation" wont work, and is only a symptom of the coming kondratiev winter (Im a big fan of the economist, along with Joseph Schumpeter)

 

J. TAYLOR'S COMMENTARY

Good Talyor article.

 

Despite the FEED governors proclamations to the contrary, profit deflation can not be stopped by monetary debasement. Unfortunately without profits, stocks are not just not worth that much.

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consumer sentiment at 9:45

On Friday....

yahoo totally messed up.

 

Nov 27 9:45 AM Mich Sentiment-Rev. Nov 84.2 85.0 85.0 85.0 85.0

Nov 27 10:00 AM Chicago PMI Nov - 49.5 48.5 45.9 -

 

 

 

Nov 28 8:30 AM Initial Claims 11/23 - NA NA NA -

Nov 29 9:45 AM Mich Sentiment-Rev. Nov - 85.0 85.0 85.0 -

Nov 29 10:00 AM Chicago PMI Nov - 49.5 47.5 45.9 -

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