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Nobody Wants The Bonds!
Nobody wants the bonds! That's sarcasm.
It's fair to say the oversupply panic that typified daily Treasury market commentary from late-July through mid-October has abated. The bond market zeitgeist shifted this month when Janet Yellen tacitly bowed to the term premium in the refunding announcement and the incoming macro data suggested the US economy is finally beginning to cool.
Still (and notwithstanding any false optic created by the ICBC hack), another lackluster 30-year sale underscored li
