Jul

3

An earlier post in Dailyspeculations.Com had the title "closes never seen again". The use of the word "never" is an example of the Hubris that is currently being displayed in certain quarters. It would be better to say "numbers not recently seen".

The early 50s, the mid 70s and the most recent Panic all began with the U.S. Treasury Department worrying much more than usual about what its customers, the bidders at the bond auctions, would do next week and with both the Treasury and the Fed hoping they would "never" be asked about next month.


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