Friday, May 22, 2009

U.S. T-Bills: The New Junk Bonds

To borrow the Presidents Swine Flu analogy, this sounds a little like closing the barn door after the horse have already left.


Geithner Vows to Cut U.S. Deficit on Rating Concern

Treasury Secretary Timothy Geithner committed to cutting the budget deficit as concern about deteriorating U.S. creditworthiness deepened, and ascribed a sell-off in Treasuries to prospects for an economic recovery.

“It’s very important that this Congress and this president put in place policies that will bring those deficits down to a sustainable level over the medium term,” Geithner
said in an interview with Bloomberg Television yesterday.

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