Ahead of Thursday’s FOMC meeting where one of the possible outcomes is a push into 2015 for the time frame of how low they want to keep the fed funds rate, the 3 yr note auction just announced saw the best bid to cover dating back to 1993 at 3.94. Also, direct and indirect bidders took the highest percentage of the auction since Nov at a touch above 50%. On the possible 2015 fed funds target, in practice its worthless crystal ball information from the Fed as so much can change of course in between. It is thus just the Fed’s attempt at jawboning the yield curve and trying at least to continue to pin the short end to virtually zero.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.