Strong demand came from all categories of bidders

By Ellen Freilich Bonds NEW YORK, Jan 6 (Reuters) - Federal Reserve policy-makersare worried that inflation will slow down too much, but theU.S. Treasury's sale of $8 billion inflation-protected 10-yearnotes on Tuesday drew strong demand from those who apparentlywant to protect their investments against inflation. A recent auction of contemporary art was called ahalf-price sale and Manhattan real estate prices are declining,but some investors can't help thinking the combination ofeasier monetary policy and fiscal stimulus might causeinflation. "I can understand someone really liking TIPS if they havethe sense that all this monetary and fiscal stimulus willeventually lead to inflation going forward though maybe notin the next three or six months or even in a year," said JohnSpinello, chief fixed-income technical strategist at Jefferies& Co in New York. Evidence of that concern came in the form of the largenumber of bids received over those accepted at the auction ofTreasury Inflation Protected Securities, or TIPS. Thebid-to-cover ration, an indication of demand, came in at 2.48and topped the 2.22 ratio at a similar auction in October. "Strong demand came from all categories of bidders." Canavan said sentiment "that the sharp decline in inflationthat we've seen in recent months will not continue over thenext couple of years or even in the near-term" probably drovethe bid for the inflation-protected securities.

"We've seen an uptick in commodity prices over the lastweek or two so there must be at least some sentiment thatprices are stabilizing here," he said. "More important is that there is little expectation of anextended deflationary period," Canavan said. "There is some hope that the size and scope of the stimuluspackage and the other facilities and policy from the Fed andTreasury that have been in effect for some time now will atleast limit further damage to the economy," he said. "For anyone who wanted to buy the 10-year TIPS for thelong-term and doesn't believe in the deflation scenario, theTIPS were reasonably cheap," Spinello said. Ten-year TIPS yields eased to 2.08 percent soon after theauction after being sold with a yield of 2.24 percent.

"They were 16 basis points in the money and 26 basis pointsthrough where they were at one o'clock," he said "That's anextraordinary move," Spinello said (Editing by Chizu Nomiyama) Bonds. Companies that are currently using amarketing automation program will learn how to enhance their program frombest practice sessions and industry leaders. Companies that have not willbe motivated to include marketing automation in their 2009 marketingprograms. The summit will be broken into two days with the first focusedon strategic issues designed for CMOs, VPs and Directors, those who managethe entire marketing strategy.

Day two will focus on the tactical needs ofthe people who implement campaigns such as marketing managers, programmanagers, coordinators, etc. January 13th will kick off with a MarketingAutomation 101 overview and will feature a round table discussion withfour of the summit's featured speakers at the end of the day. Day twowill end with a series of product showcases comparing differentautomation system alternatives.WHEN: Tuesday and Wednesday, January 13-14, 2009 8:00 a.m - 5:00 p.m. PSTWHO: Presentations at the Marketing Automation Summit will include:Bill O'Dell, O'Dell Consulting "A Strategic Approach to Analysis"David Green, CEO of PipeAlign, LLC "Digital Dialogue to Generate Demand& Nurture Inquiries & Leads"David Raab, principal, Raab Associates "How to Get The Most Value fromYour Marketing Automation System"Gary Halliwell, CEO and founder of Netprospex "Email Marketing 101"Jim Sterne, author and producer, eMetrics Marketing Optimization Summit "Measuring Your Online Success from Soup to Nuts"Jon Miller, co-founder of Marketo "Modern B2B Marketing: Marketo LeadManagement Showcase"Jonathan Block, senior director, research, SiriusDecisions "Automate orDie"Kelly Abner, director of marketing at Marketo "Nurturing/Cross-sell,Up-sell"Lisa Cramer, president, LeadLife Solutions "A Marketer's Blueprint toSuccessful Lead Management"Laura Patterson, president, Vision Edge Marketing "Ten steps to makemarketing and sales work better"Loren McDonald, vice president, Silverpop "Why Marketing Must NurtureLeads for Maximum Sales Success"Malcolm Friedberg, principal at Lead Targets "Marketing Automation 101"Mary Gospe and Mary Sullivan, co-founders of Kickstart Alliance "Aligning Sales and Marketing"Melissa Voitenko, AppAssure "Marketing Automation Case Study"Rick Eyraud, Echo Lane "Reporting ROI"Will Schnabel, general manager at Silverpop "Aligning Marketing andSales with Effective Lead Scoring Techniques"WHERE: The Marketing Automation Summit is available on brighttalk : http:// THE SUMMIT AVAILABLE ON YOUR SITE: The summit can also be accessedthrough the BrightTALK player, which can be embedded into websites andblogs. For information on how to embed a player or to participate infuture summits, contact Morgan Cantrell (415-955-0553, mcantrell (at)brighttalk ).ABOUT brighttalk :Founded in 2002, BrightTALK(TM) is one of the early pioneers of businesswebcasting. Its customer base includes financialcompanies such as American Express, J.P.