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10-year note auction

Trouble is, Greece still needs more money to float the country and skeptics are abound, still viewing them as the poster child of the PIGS nations

Word has it that Greek banks have asked the government to use the remaining 17 billion Euro of funds allocated to back up the country’s banking system to be put to work as a government guaranteed bond program. The move would allow for a better haircut when borrowing from the European Central Bank. Trouble is, Greece still need more money to float the country and skeptics are abound, still viewing them as the poster child of the PIGS nations.

Bernanke’s Fed Exit strategy – pay particular attention to the fact that they continue to anticipate concluding the purchase of MBS and Agency Debt Securities at the end of March

Bernanke’s Fed Exit strategy - pay particular attention to the fact that they continue to anticipate concluding the purchase of MBS and Agency Debt Securities at the end of March. Weather concerns have shut down most of the Mid Atlantic and Eastern seaboard, adding to light volume and a volatile trade. T

Just a quick update as we are minutes away from the results of today’s 40 billion 10 year note auction

Just a quick update as we are minutes away from the results of today’s 40 billion 10 year note auction. The market has slipped a touch, primarily due to hedging in front of the issue. 10 year note down 8/32’s (yield 3.75%), MBS off 5/32’s, and stocks up 33 points on the Dow. The $10,000.00 question is who will or will not show up to buy the auction.

The market has been under a little pressure all day, primarily due to hedging for today’s 10 year note auction (21 billion)

The market has been under a little pressure all day, primarily due to hedging for today’s 10 year note auction (21 billion). The market seems to be set up for consolidation, but one that will take the yield only a few bps higher. Traders will most likely buy the dip and then repeat the process tomorrow for the 30 year auction (13 billion).