US rates remain low, partly on the (mistaken) view for a slowdown into year end. But a good part too is demand for sanctuary given considerable uncertainty of spill over linked to Greece. The EU decided to throw a life raft as long as the Greek’s stick to an austerity plan. Lower US rates tell us no one believes they will.
So world flight to quality drives prices of our treasuries higher, thus yields lower. When we see our rates turn around and head back up, it’s a sign the Greeks have abandoned their Cal Trans work ethic.
Robert Craven
So world flight to quality drives prices of our treasuries higher, thus yields lower. When we see our rates turn around and head back up, it’s a sign the Greeks have abandoned their Cal Trans work ethic.
Robert Craven
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