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Fed Downplays Bank Crisis As Another Bank Teeters | Jim Bianco
Forward Guidance
The Fed Can't Save You
The U.S. debt ceiling is due to be raised by the end of June, but Janet Yellen said it won't happen until early June. The fear is in the market that if you own a June 6th treasury bill and that June 6th Treasury bill doesn't pay, do you price it? So we don't know. This has never happened. And so to make your life simple, just avoid that whole sector. You see this enormous hump now in the treasury bill yield curve. That's where it's showing up.
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