Treasury Quotations

If the equity market continues to retrench, then there's going to be quality flows coming into the Treasury arena that push bond yields lower,

If the government go for the lowest-common-denominator approach, I don't think we will want to be involved. There's a danger the government will just go for the biggest return to the Treasury and not be interested in overcrowding issues, the quality of the food and the quality of the service.

Today the flows have changed. We did see some selling this morning of the back end of the Treasury market and perhaps that's just a little disappointment that the stock market didn't go further below 10,000.

Today, the first auction of 30-year Treasury bonds in (almost) five years is expected to go well.

Treasury yields will go higher as investors are concerned about inflation. Money is going into commodities to chase higher returns and that is adding to inflationary pressures.

Treasury yields look headed to 5 percent by the May 10 (Federal Open Market Committee) meeting and possibly 5.25 percent by the June 29th.

Treasury yields have fallen across the board as the market waits to see how much damage the hurricane will do.

I wish to thank the Department of State and the Department of Treasury for their assistance in securing the approvals necessary for Cuba to participate in the inaugural World Baseball Classic in March. The federal government thoughtfully and diligently helped us bring the application process to a successful conclusion. Now, with Cuba?s entry in the tournament approved, the World Baseball Classic promises to be an historic event and will guarantee our fans the greatest possible competition among the best players in the world.

Assume that a time machine is beaming you back to Monday morning. You start the week with the impression of an unexpectedly strong 274k US payroll report in mind. In addition, a clairvoyant tells you that: 1) US retail sales surged by 1.4% m-o-m in April, 2) German growth advanced by 4% q-o-q annualized in Q1 2005, 3) speculation about a revaluation of the Renminbi will intensify, 4) the oil price will fall by about USD 3.50 per barrel this week, 5) and the US Treasury will sell USD 51 bn in Treasury Notes. You make up your mind and conclude that in this environment yields need to go up. At least 99 out of 100 market participants with the same information would have shared your view. But reality is different. Yields are down and down and down again. These are Schwarzenegger markets, no one can beat them.

As the news this morning of increased joblessness and earlier reports of exploding deficit and debt reveal, the president's economic policy is a disaster. Obviously, the secretary of the treasury and Mr. Lindsey are being sacrificed to protect the president. Sadly, the removal of these economic officials will do nothing if they are simply replaced with yes-men committed to the president's relentlessly partisan agenda of pushing tax cuts at the expense of all else.