what\'s with all the hubbub over these "equestration cuts?" Everyone
likes horses, don\'t they? Well, whether that\'s true or not, [Friday marked] the
official kick-off date for the reductions in federal spending growth that were
passed into law 19 months ago. Some are shocked that this is happening. Others
are shocked that anyone is shocked by the mere implementation of previously
passed legislation. Isn\'t that how it works? The Treasury market remains
generally unaffected by the melodrama with the Ten Year Note yielding around
1.85%... Read more in the Baker Market Update.