Wednesday, March 12, 2008

Blowback...

Dollar falls to record low against Euro: Euro=$1.55

Oil hits new high: $110/barrel

Wheat: up 5.33% $13.28/bushel

Dow: down 46.57

10-yr.: 3.483%

30-yr.: 4.41%

The long bond sees this move for what it is: deflationary.

The primary dealers were very short Treasuries. Now, they're just short even more Treasuries.

I bought more IAR at $4.10.

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