Broken hearts lie all around me
And I don't see an easy way to get out of this
--Cutting Crew
Long bond yields breaking lower anew today.
FOMC just out of their mtg. Announced they will commence operations to buy 'em using agency proceeds.
Seems to me the Fed is taking pains to state this in a way that makes this debt monetization process legitimate and likely to be effective. Watch the dollar, 10 yr yields, and gold over the next coupla days to see whether investors drink the kool aid...
position in bonds, USD, gold
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I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.
~Friedrich August von Hayek
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