Uhmm, isn't it more because the only way Uncle Sam can pay back all the Treasuries currently outstanding is by printing more money, namely by money-laundering? Why people forget this fact is unbelievable!
1) What I "said" was more of an inside joke with me and the original poster. 2) What's really "unbelievable" is that people are inclined to believe/assume that Uncle Sam actually wants to or will pay back all of those Treasuries.
ten year is oscillating between 3.25 ((3.18ish high price of ZN) and 3.75 yield it dipped to 3.80+ shortly now it is stuck. It's all about yield not indicators. People have to readjust their hedges every quarter point so pay attention to yield right now about 3.65 we'll see if they get some 3.75's soon if spooz rally and EU PIIGS debt is ok.
that was some "end of month order flow / book squaring on friday lets see how this goes into friday payrolls