The Treasury Department is going back to the future. Late last year they began to reissue 3-year notes and today they announced they will begin selling 7-year notes as well. This is part of the Treasury Trader Full Employment Act of 2009. Kidding, kidding…
We’re also picking up anecdotal reports that forex volumes tumbled in January. Most of the volume is these days being handled by algorithms. No bonus, no tradey seems to be the mentality at the market-making banks. .