Coming up next week, the Treasury Department will sell $44 billion in 2-year notes on Tuesday, followed by $42 billion in five-year debt (UST5YR 2.34, 0.00, -0.17%) the next day. It will also auction $32 billion in seven-year notes on Thursday.
Auctions as far as the eye can see. Just when the market distruptions (equity, bond, and gold) from one auction begin to subside, another arrives to wreck its havoc.
The size and frequency of these auctions have made us apathetic to such announcements. Unfortunately, apathy does not mitigate the price, in terms of the future purchasing power of the dollar, of the Keynesian solution.
Source: marketwatch.com
Source: treas.gov
Source: en.wikipedia.org/wiki/Keynesian_economics
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