Dollars and Jens
Monday, October 20, 2008
Term: 13-WeekHigh Rate: 1.250%
Investment Rate*: 1.271%
Price: $99.684028
Allotted at High: 58.29%
Total Tendered**: $62,279,144
Total Accepted**: $25,000,081
Issue Date: 10/23/2008
Maturity Date: 01/22/2009
CUSIP: 912795J85
TED below 300bp.

NB, "TED at 300bp" would have been alarming as recently as two months ago. The credit system isn't what one would call "healthy", only the most so in a month. I'm cautiously optimistic that things will continue to improve, but we'll probably be on edge through the bottom of housing prices and the economic cycle at the end of next year.


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