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Budget, schmudget

 There were two interesting developments yesterday:

First, Mark Carney, BOC Governor, spoke in Halifax about the improbability of deflation:
http://www.bankofcanada.ca/en/press/2009/pr09-2.html
 Also, one of the fallouts of the budget will be a record issuance of Federal bonds this year, some $ 82 billion, including the resumption of 3 year auctions and lots of 30 year bonds.



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