Zeev's Turnips Patch-No Politics (ZEEV)

[lee kramer]

Hi Benj: Don't mention the word "golf" to me. Please. Plugger came up and he and I had a match with my son-in-law Danny and his friend. Plugger carried the day. My best shot was on the 5th hole. I took out my trusty 2 wood for a 220 yard fairway drive to the green. The 2-wood slipped out of my hands on the downswing and took flight, narrowly missing Plugger. The darn club went further than the ball! Imagine my chagrin. Plugger ducked, he has a great duck. Now to the Fed: I can offer you no details but it's a sales/marketing job. In the most recent case the key seems to me to be the yield that the buyers garner. A month ago the 10 year T-note was yielding 3.10%...not very attractive. But lo and behold [whatever lo and behold means] the bonds ran down hard this past month and the yield flew [like my 2-wood] to 4.50% [As bond prices decline, yields rise and vice-versa.]