SO EXPLAIN TO ME WHY THIS ISN’T BAD NEWS: Russia May Swap Some U.S. Treasuries for IMF Debt. “Russia may switch some of its reserves from U.S. Treasuries to International Monetary Fund bonds, the central bank said today. The comment drove Treasuries and the dollar lower. . . . Treasuries fell, pushing 10-year yields toward the highest level in seven months, in response to Ulyukayev’s statement. The dollar fell against the euro on speculation that Russia will reduce its holdings of U.S. debt.”
UPDATE: Rasmussen: 45% Say Cancel Rest of Stimulus Spending. “Forty-five percent (45%) of Americans say the rest of the new government spending authorized in the $787-billion economic stimulus plan should now be canceled. A new Rasmussen Reports national telephone survey found that just 36% disagree and 20% are not sure.”