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MP Bonds May 18th


Bonds went eventually to 105.13 missing the long spoken about tgts of 105.08 by 5 tics. Good enoiugh for Government work me thinks. Now the key is this thrice weekly top at 107. We are way overdue for a good old fashioned squeeze especially now that the market has effectively rejected the CPI data that was supposedly so negative. Anecdotally on that day I received many calls telling me that bonds were going to tank but the profile told me something else


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