Most jps went offered this afternoon. Not in big size but enough where most illiquid series suddenly got offered down $0.50 +/- from their previous trades. Could be a classic once momentum shifts and try to sell you realize the liquidity isn't there so you offer down because desperately need to move paper. Could be someone trying to squeeze out weak hands, but seemed very coordinated.
Anyhow Bessent out of Trump inner circle and Stephen Miller is your main man. Lutnick is closer to the inner circle right now than Bessent. Anyone have thoughts on impact of a Bessent departure on GSE release? Anyone have any read of Miller's view of GSE release?
Anyone know of acrimony between Bessent and Ackman? Have heard rumors there is little love lost. Guys like that....the only thing better than making $ is helping that next guy you dislike lose $. Hopefully Paulson stays quiet.
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