have a read of this, page-17

Just some dates to keep your eyes on.


In the coming week, the Federal Reserve will be issuing nearly $100 billion of Treasury Securities. The schedule is as follows:

- Tuesday, January 12, 2010: $40 billion in 3yr notes & $26 billion in 52wk T-bills

- Wednesday, January 13, 2010: $21 billion in 10yr notes

- Thursday, January 14, 2010: $13 billion in 30yr bonds



We will be closely monitoring the action in the 30yr bond issuance, as that is where we believe the greatest supply/demand imbalance exists. Any sign of weak demand in any of this weeks Treasury auctions will provide a bearish catalyst sending government bond prices lower and interest rates higher.