Yields on the benchmark 10-year Treasury note and Fannie Mae mortgage bonds are higher than they were before the Federal Reserve said March 18 that it would buy as much as $1.25 trillion in mortgage-backed securities to help drive down borrowing costs.$1.2T down, infinity to go.
The Fed’s program, along with a plan to buy as much as $300 billion in Treasury securities, helped push rates to a record low 4.78 percent twice in April.
Treasury yields are climbing as investors anticipate a greater supply of government debt being sold to fund federal spending.
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Thursday, June 04, 2009
You Can't Stop A Tsunami
... so don't even try. In the end, all your attempts will be wasted energy.
"With enough Lego blocks connected together," said Fed chairman Ben Bernanke, "this catastrophe could have been prevented."
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