Fewest Treasury Traders Since 1960 Hit Taxpayers (Update4)
http://www.bloomberg.com/apps/ne…9aMo& refer=home

Fewer firms bidding for U.S. bonds means “you're going to have sloppier auctions,'' said Mark MacQueen, a money manager in Austin, Texas, at Sage Advisory Services, who traded Treasuries at dealer Merrill Lynch & Co. in the 1980s. “The taxpayer and the government are paying more no matter what happens.''

In a note to clients, Bove said the money supply growth would not be enough for inflation rate to rise and the rise in dollar value would also reduce the previously expected export led recovery, leading to banks posting more loan losses.

The lower boundary of the channel has become quite clear, as the index bounced off 11,450 twice in the last two sessions alone. If 11,450 is broken to the downside, we could see a big decline ahead. From a tea leave reader:

The Daily Chart shows the Dow is building out within the boundaries of the large, upward-sloping channel, which also resembles a bearish pennant consolidation. Typically, this type of pattern breaks to the downside and does so in a big fashion. Watch 11,400 very closely for signs of a potential downside break ahead. http://www.signalwatch.com/markets/markets-dow.asp?Date=08/14/08