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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 05/01/2010 : 19:19:50
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Treasury Redeems A Gargantuan $643 Billion In Treasuries In
April
Submitted by Tyler Durden on 04/30/2010 16:33 -0500
A week ago we were practically speechless when we showed that the Treasury had redeemed nearly $494 billion in Bills in April. A truly stunning number and an indication of just how much cash the Treasury needs to have access to to keep rolling its ridiculously short average maturity debt load. Today we stand even more speechless: according to today's DTS, the Treasury has now redeemed $596 billion in Bills in Aprils: an all time world record, even when accounting for the Fed's steroid abuse period of SFP 1 (we are currently in the second iteration). Add $47 billion in Notes and there are almost $650 billion in redemptions. This number is simply ridiculous. Forget the interest expense: this ever increasing roll is the number one danger to the US and world economy. Should the Treasury be unable to keep issuing shorter and shorter dated debt (and it already is skirting away from even the belly of the curve), it is for all intents and purposes game over.
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 05/01/2010 : 19:57:21
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quote:
Originally posted by Ardent Listener
Treasury Redeems A Gargantuan $643 Billion In Treasuries In
April
Submitted by Tyler Durden on 04/30/2010 16:33 -0500
A week ago we were practically speechless when we showed that the Treasury had redeemed nearly $494 billion in Bills in April. A truly stunning number and an indication of just how much cash the Treasury needs to have access to to keep rolling its ridiculously short average maturity debt load. Today we stand even more speechless: according to today's DTS, the Treasury has now redeemed $596 billion in Bills in Aprils: an all time world record, even when accounting for the Fed's steroid abuse period of SFP 1 (we are currently in the second iteration). Add $47 billion in Notes and there are almost $650 billion in redemptions. This number is simply ridiculous. Forget the interest expense: this ever increasing roll is the number one danger to the US and world economy. Should the Treasury be unable to keep issuing shorter and shorter dated debt (and it already is skirting away from even the belly of the curve), it is for all intents and purposes game over.
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pretty well sums it up !!
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My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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Treasury redeems $643 BILLION in April
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