Goodbye, POMO. We hardly knew ye.

20140830_POMO.jpg
 
And then by Jun,2015 there is an expected .25% fed funds hike?
I dont know how to figure out the probability of this but present GEM15 is about .55% with small risk
premium.
So we tighten more into this flattening 2yr/10yr note spread.
Things must be pretty good.
 
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