"Seneca had made the bargain that many good men have made when agreeing to aid bad regimes. Their presence strengthens the regime and helps it endure. But their moral influence may also improve the regime's behavior. For many, this has been a bargain worth making, even if it has cost them—as it may have cost Seneca—their immortal soul. The Rome he has been trained to serve, the Rome of Augustus and Germanicus, was gone. In its place stood Neropolis, ruled by a megalomaniac brat.” James Romm
We are not sure what to make of this drawdown in the short end of Treasuries.
The Fed says don't worry, that's just us buying up the market.
Perhaps they are rebuilding their bank panic breakwall.
But in the meanwhile, we'll head to higher ground for a better view.
