If I had had more intelligence I should have titled my last post Howard Davies: my part in his downfall. It's a conjecture, but intelligence is something there may have been a surfeit of in this affair. You should continue to monitor events as they unfold.
Treasury market dysfunction and the role of the central bank
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Thinly capitalized hedge funds’ growing role in the enormous and rapidly
expanding market for U.S. Treasury securities poses a clear and present
danger t...
2 hours ago
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