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August 12, 2009



quick thought from a brit: they will say nothing. there's no way they can offload $23bio of ten yrs then an hour later say they will stop buying after Sep. The tsy mkt will be destroyed.

better to follow the BoE and say nothing. the dough will run out about a week before their next meeting so the bond market will have to get used to the idea of flying solo with no actual guidance.

the fed can then decide in sep based on a month's extra data and bond prices.

keep on keepin on

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