The Fed as cornered itself.
Treasuries fell for the first time in four days, with yields on the 10-year note increasing six basis points, or 0.06 percentage point, to 3.69 percent at 4:58 p.m. in New York.
A further increase in long term interest rates may put such any recovery in jeopardy.
Of course we know what the Fed answer would be: they would print more money! That would just add fuel to the fire: interest rates are n ot climbing because of hope of recovery. They are climbing because everybody with alf a brain knows thta the Fed will NEVER withdraw the money it has printed in time.
Guess what will be the result on the Stock Market!
Jean Jacques Chenier, New York 24 June 2009
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