Kim Rupert
Kim Rupert
auction came good
The auction came off pretty much as advertised -- it was good and strong.
gains opportunity selling
The post-auction gains were used as a selling opportunity.
beforehand caused changes curve permanent seen shift subtle treasury week
What the Treasury has done has caused a significant, permanent shift in the way the curve is structured. We'd seen a lot of subtle changes beforehand but it was the announcement this week that really triggered the earthquake.