Thursday, August 5, 2010

Have money, will spend…

The only comfort one can draw is that most of the expenditure is for worthy initiatives.

In the meantime, the debt market will probably have to shed its expectations of a reduced government borrowing programme. The 10 year GoI yield didn’t react badly though, because at least some of the proposed expenditure would result in an immediate increase in market liquidity. So aal isz well…

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