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In a message dated 06/01/2000 6:49:31 PM Eastern Daylight Time,
omega-digest-request@xxxxxxxxxx writes:
<< I thought the government was just buying back the higher interest rate
bonds
of the past(10%+) and replacing them with the current lower interest rate
bonds- (not shorter duration)- replacing them with shorter duration is
foolish indeed. >>
Nope. That's a Clinton-hater myth. The retirement and rollover of bonds is
managed far more responsibly than that. You can check the average maturity
and distribution of maturities of outstanding Federal debt at the Office of
Management and Budget website. No pattern of swapping long term for short
term debt exists.
Regards,
Richard Torgerson
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