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The Boss on today's meme

The Boss on today's meme

The object in this headline is a Wednesday: a surge in trading and prices in Argentina's peso bonds that raised speculation the government itself was pushing its borrowing costs down ahead of key Treasury auctions.

Thursday the bonds fell, which is what a dial does once the thumb comes off it.

A seller who warms up the bids the day before his own auction has not lowered his borrowing costs; he has rented one day of them.