LOL.

Grizzlie Antagonist wrote:
> On 9 Mar 2005 17:26:42 -0800, "J"
 wrote:
>
> >Look, mom, I can post random shit on soc.men, just like Hyerdahl....
> >
> >NEW YORK (Reuters) - U.S. Treasury debt prices slid on Wednesday
while
> >benchmark yields notched seven-month highs as traders saw stirrings
of
> >inflation in the Federal Reserve's beige book summary of economic
> >conditions.
> >
> >Although the Fed said in the beige book that retail prices were
> >generally flat or up only modestly, the report added that businesses
> >continued to face rising input costs and that in some areas they saw
> >greater ease in passing along those price increases to the consumer.
> >
> >The hint of rising prices was enough to crack the whip on a bond
bear
> >stampede that began on Tuesday, driven by technical selling and
> >characterized by increasing unease about the risk of inflation.
> >
> >The benchmark 10-year Treasury note (US10YT=3DRR: Quote, Profile,
> >Research) lost 1-1/32 in price, lifting yields to 4.52 percent from
> >4.395 percent late on Tuesday, and to their highest level since late
> >July.
> >
> >"You are seeing a major price correction, and it is being blamed on
> >anything you see, including ... inflationary pressures," said
Kathleen
> >Stephansen, director of global economics at Credit Suisse First
Boston
> >in New York.
> >
> >"If you are concerned about inflationary pressures you can dig into
> >what ever the beige book is telling you and that is enough to say
'We
> >are going to get more inflationary pressures down the road,"' she
said.
> >
> >Faster inflation would not only eat into the fixed returns offered
by
> >Treasuries, but could also force the Federal Reserve to raise
> >short-term interest rates at a speedier pace.
> >
> >Sellers also may have taken a cue from Chicago Fed President Michael
> >Moskow, who said that low long-term yields remain a conundrum
despite
> >the Fed having tightened official interest rates by 150 basis points
> >since last June.
> >
> >Moskow said that with the U.S. expansion firmly in place, "the issue
of
> >inflation becomes increasingly important."
> >
> >Chart watchers were now looking for the yield on the 10-year note to
> >rise to the 4.53/55 percent area and perhaps even to return to last
> >year's highs above 4.80 percent.
> >
> >"This is looking like a watershed for the market here," said
Sadakichi
> >Robbins, head of global fixed-income trading at Bank Julius Baer.
"The
> >clear break of the range augurs much higher yields and could well
force
> >convexity hedging from the mortgage guys."
> >
> >There was some relief that a $15 billion auction of new U.S.
government
> >paper drew reasonable demand. The Chicago Fed's Moskow did say the
> >process of raising rates would likely remain "measured"
-- shorthand
> >for quarter-percentage point hikes.
> >
> >=A9 Reuters 2004. All Rights Reserved.
>
>
> And let's not even get into the bitter Susan B. Anthony dollar...
>
>
> --------------------------------------
> grizzlieantagonist{at}yahoo.com
>
> "Ladies and gentlemen - let's have a round of applause for tonight's
player of the game - FRAN-CIS-CO SAN-N-N-N-TOS!
>     - Brian Anthony (P.A. announcer at Grizzlie Stadium), June 11,
2004
>
>
> "Populus me sibilat, at mihi plaudo."(The people
> hiss at me, but I am well satisfied with myself).
>
>     - Horace, the Roman poet
>
>
> Logical positivism, dominant in American and
> British universities, is suicidally bent upon
> establishing the impossibility of knowing any-
> thing.  (As Wyndham Lewis suggested in "Self
> Condemned", the neo-positivist pedant reduces
> himself to a mosquito, able to wound, nearly
> invulnerable to counter-assault - but only an
> insect, not a man).
>=20
>      - Russell Kirk, Enemies of the Permanent
>        Things



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