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What happened in the bond market today

An Historic Day: September 8 2008

A brilliant analysis of what happened today in the bond market by John Jansen. The fall in treasuries, predicated on selling less risky bonds in order to buy riskier assets was reversed when the mortgage market loosened up, creating a demand for treasuries from mortgage servicers. As John Jansen says, "Always expect the unexpected is a fine mantra to follow even in the bond market."

Posted by Pure Guesswork on September 8, 2008 8:45 PM |

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