Been searching to understand what happened late last week in the 'market' since the ppt burst I saw Friday morning was light relative to other ppt shots. Came across an article by Lee Adler who discussed in detail the effect that the Treasury bill market had on creating excess liquidity due to pending concerns about the potential for budget and debt limit battles. He described on David Stockman's Contra Corner how this perverse payoff of 62 billion to Primary Dealers that normally would have rolled over to newer maturities found its way into goosing the rocket blast. He also said this effect will taper into Thursday, then can occur again but will dissipate completely by early Nov. I have to learn more about this.