(Dodge City, KS) This weekend’s report is in two parts. This morning the Focus section on the bubble that will kill us all, and the charts.
Sunday morning (once we get up to Gillette, WY this afternoon) I will update the news and comment part of this weekend’s report.
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Just a correction. The Fed is not holding CMOs in portfolio. Never did. After the meltdown they did buy fully-guaranteed pass-throughs, along with lots of Treasury Notes and Bonds.