July 13.

July 13.  Light volume Monday with fixed income prices nearly unchanged.  Not surprisingly treasury vol was somewhat softer; curve edged lower.
–Ten year auction today followed by 30 year bond tomorrow.
–Fed’s Duke and Lacker both indicated yesterday that there are no near term plans to continue easing.
–A couple of interesting snippets this morning: Huff Post has an article FTC Urges States To Rein In Frivolous Debt-Collection Lawsuits Overwhelming Courts.  And Bloomberg has a piece saying that downtown Miami is filling unsold buildings with young renters (at a reasonable price).  The other day I saw a piece about people in Detroit starting to take over city services…for example by cutting the grass at public parks, etc.  All of these things are indications that the US is starting to adapt to new realities and perhaps bottoming in a way: Perhaps certain debts will simply be written off, building development owners bite the bullet and accept lower cash flows, people take more responsibility rather than expect gov’t services to take care of everything…

Posted on July 31, 2010 at 8:49 am by alexmanzara · Permalink
In: Eurodollar Options

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