Sadakichi Robbins Quotes

It was an extremely ugly auction. And that's something nobody wants to see, not the Street and certainly not Treasury, given the amount of borrowing they have to do.

The real surprise is that none of the usual indirect bidders turned up. Maybe they were scared away by the jump in direct bidding (Wednesday).

The view that the Fed can take a measured approach is supported by the Greenspan testimony today -- he reiterated that the measured approach is really the right medicine here.

The two together kind of make an evil witches' brew for Greenspan: employment growth and price pressure. And there's the thought that 'what if the Fed is behind the curve,'.

The only thing that isn't debatable is that we have a downward trend in yield.