• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

10 Year Yield Plunges To 2.57% As Bond Market Goes Full Retard

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Mon, 08/16/2010 - 14:43 | 524360 Young
Young's picture

Is it the bond market or the equity market that's gone full retard? "And everyone knows you never go full retard"

Mon, 08/16/2010 - 14:45 | 524370 Tyler Durden
Tyler Durden's picture

The 10 Year doesn't read scripts. Scripts read the 10 Year

Mon, 08/16/2010 - 14:49 | 524380 Max Gibson
Max Gibson's picture

any follow-up thoughts on risk-bond pair since the morning post?

Mon, 08/16/2010 - 15:07 | 524446 Tyler Durden
Tyler Durden's picture

ES has to drop to 1,068 for convergence although pair appears dislocated beyond repair right now due to major liquidations at both MS (2s10s steepener) and BofA (10s30s flattener) desks.

Mon, 08/16/2010 - 17:34 | 524759 ZeroPower
ZeroPower's picture

I read BACs note a while back mentioning a great hedge for the flattener plays with some long dated swaptions or basically underweighting the long end of the curve.

But also, why would the market dislocation in USTs matter on a broad basis - one desk's fuckup is anothers black on their P&L. At least, any decent sized fund (PIMCO advocated this a few months back) would have hedged with puts on longer dated treasuries.

Mon, 08/16/2010 - 18:40 | 524866 mephisto
mephisto's picture

Great market colour, thankyou. You'd make a hell of a broker. (sorry, sorry...)

Mon, 08/16/2010 - 16:06 | 524576 hedgeless_horseman
hedgeless_horseman's picture

I doubt retards can read:

http://www.youtube.com/watch?v=vIe1hn56m9w

Mon, 08/16/2010 - 20:02 | 525022 TheWord
TheWord's picture

I'm Spasticus, Spasticus, Spasticus Autisticus!

http://www.youtube.com/watch?v=6isXNVdguI8

 

Mon, 08/16/2010 - 20:17 | 525057 DoctoRx
DoctoRx's picture

Even when all the President's men are desperate to jump-start housing?

Mon, 08/16/2010 - 14:49 | 524376 redarrow
redarrow's picture

The effort put in to hold equities up is at 100000 psi. Sooner rather than later we will have the market equivalent of the Macondo well on Wall St. What next 10 year at 2%?...f'in it is already insane right now. 

Mon, 08/16/2010 - 15:14 | 524463 Caviar Emptor
Caviar Emptor's picture

Hehe. I'll say it again: 2.5% will seem rich when yields are 0.25%

Mon, 08/16/2010 - 15:24 | 524492 chrisd
chrisd's picture

I take my investment advice from Yahoo Finance: "Wall Street's down for 2010, but Some Still See Hope".

Also, Reuters: "Banks ease lending standard for first time in 4 years" (clearly they didn't get the memo about 2001-2008.

As told to me by respectable news outlets. It is time to go long on borrowed money.

Mon, 08/16/2010 - 15:29 | 524503 redarrow
redarrow's picture

Bermonkey is straining at the controls to pull the C130 up.

Mon, 08/16/2010 - 16:08 | 524580 mikla
mikla's picture

EVERYTHING IS FINE.  WE WOULD LIKE TO POINT OUT THAT THE PLANE IS NOT UPSIDE DOWN (THAT IS GOOD), AND NOT UNDER WATER (THAT ALSO IS GOOD).

PLEASE ENJOY THESE COMPLIAMENTARY PEANUTS.

Mon, 08/16/2010 - 17:39 | 524765 Hephasteus
Hephasteus's picture

Mikla and assetman have been funny lately. It must come from using Geihtner based avatars.

Mon, 08/16/2010 - 21:57 | 525195 TwoShortPlanks
TwoShortPlanks's picture

Printing Presses in the Fed might as well be Oxygen Generators in cargo holds or jammed trim actuators in stabs.

"Global Sanity Control this is Austerity Air, I've got a visual on Capitalist Air...yeah, he's in a big huge deflationary dive and doesn't seem to be pulling-out...his T's seem to be ineffective, offering no lift whatsoever...wait a second...their pushing money out of the doors, tonnes of money...of shit, he's down...GSC, there's bits and pieces of Capitalist spread all over, , over what looks all the world to be an oil slick in the Gulf."

Tue, 08/17/2010 - 03:27 | 525485 tom a taxpayer
tom a taxpayer's picture

Pilot on loudspeaker: "Thank you for flying Hope and Change Airline. We will be landing in 30 seconds. Don't forget to remove your belongings from the overhead rack. Please watch your step when exiting."

Mon, 08/16/2010 - 15:27 | 524497 redarrow
redarrow's picture

Makes me sick just staring into that abyss. 

Mon, 08/16/2010 - 14:51 | 524386 tmosley
tmosley's picture

Only in a few instances have I seen Tyler go "Chicken Little", and this isn't one of them (the freon leak at the nuclear plant is what I am referring to here).  He's about as far from "full retard" as you can get.

Mon, 08/16/2010 - 19:09 | 524929 Johnny Bravo
Johnny Bravo's picture

And yet, tmosley and the bond markets happen to have much in common.

FWIW I'm kidding.  I've actually come to somewhat like you over time.

Mon, 08/16/2010 - 19:17 | 524945 ColonelCooper
ColonelCooper's picture

"I've actually come to somewhat like you over time."

I'm guessing he somewhat couldn't give a flying fuck.

Mon, 08/16/2010 - 19:21 | 524954 Johnny Bravo
Johnny Bravo's picture

And you're only somewhat a prostitute for truckers, as your posts yesterday would indicate.

Mon, 08/16/2010 - 14:52 | 524392 themosmitsos
themosmitsos's picture

EVERYONE knows that if you pull off full retard though, that's an academy award ;)

Mon, 08/16/2010 - 19:11 | 524930 Johnny Bravo
Johnny Bravo's picture

Gold bitchez!

(How'd I do?  Did I get the Oscar?)  LOL.

Mon, 08/16/2010 - 15:17 | 524469 Nihilarian
Nihilarian's picture

"And everyone knows you never go full retard"

 

 

Sean Penn missed that memo.

Mon, 08/16/2010 - 16:19 | 524606 Treeplanter
Treeplanter's picture

Yet Sean did so well playing himself in Ridgemont High.  His Glory Days.

Mon, 08/16/2010 - 15:34 | 524470 Nihilarian
Nihilarian's picture

<double post>

Mon, 08/16/2010 - 15:34 | 524471 Nihilarian
Nihilarian's picture

<sry, triple post>

Mon, 08/16/2010 - 14:47 | 524372 ghost
ghost's picture

best headline ever....

Mon, 08/16/2010 - 16:08 | 524584 Assetman
Assetman's picture

Oh... and the Simple Jack reference is even better!

I'm holding out... I don't just expect Full Retard... I'm waiting for Hyperactive Retard.

Mon, 08/16/2010 - 17:56 | 524797 perchprism
perchprism's picture

 

Hey, guys, knock it off, will ya---my sister's a retard.

Mon, 08/16/2010 - 19:11 | 524932 Johnny Bravo
Johnny Bravo's picture

What a coincidence!  So is her brother!  It must run in the family... 

Mon, 08/16/2010 - 21:15 | 525142 Fred C Dobbs
Fred C Dobbs's picture

 I work with retards. . . I love those goofy bastards.

Mon, 08/16/2010 - 17:23 | 524734 Miles Kendig
Miles Kendig's picture

Who is rolling on snorting too much of their Adderall to combat the Xanax effect.

Mon, 08/16/2010 - 14:48 | 524375 chunkylover42
chunkylover42's picture

holy short covering the bull steepener, batman.  capitulate!

fantastic pic, BTW, that's hysterical.

Mon, 08/16/2010 - 15:01 | 524431 mule65
mule65's picture

+1

I blew snot lol.

Mon, 08/16/2010 - 14:48 | 524377 Turd Ferguson
Mon, 08/16/2010 - 14:49 | 524378 WineSorbet
WineSorbet's picture

Tyler, you really know how to make my day.

Mon, 08/16/2010 - 14:53 | 524379 Young
Young's picture

Haha, seriously - I did not see that picture when I posted - Aaawesomeness!

Mon, 08/16/2010 - 14:50 | 524381 assumptionblindness
assumptionblindness's picture

You know things are fuc'd when Tony Robbins feels compelled to make a 'Economic Warning' video.  Enjoy!

http://www.youtube.com/watch?v=Z_rShZA_IjE

Mon, 08/16/2010 - 14:55 | 524412 Young
Young's picture

He's received a lot of shit, but right here he talks more sense than most other media figures...

Mon, 08/16/2010 - 15:00 | 524429 assumptionblindness
assumptionblindness's picture

He surprised me with his knowledge...he must read ZH!

Mon, 08/16/2010 - 15:07 | 524447 Young
Young's picture

Right on mate!

"If you think out of optimism and delusion that everything is gonna go well..."

He's done some reading/got some tutoring on the subject, and that's a fact.

Mon, 08/16/2010 - 15:14 | 524460 assumptionblindness
assumptionblindness's picture

Maybe he got some 'Tudoring' (from PTJ) on the subject.  I'd like to know his source(s)...

Mon, 08/16/2010 - 15:30 | 524498 Young
Young's picture

I actually thought about that aswell, but it doesn't fit with my avatars track record after that. He made a killing in bonds aswell as in the Nikkei - but maybe. Who else could it be? I know Jimbo Rogers was short, but he's not the type of guy to get in touch with Robbins...

Mon, 08/16/2010 - 15:39 | 524518 Pladizow
Pladizow's picture

Always thought Tony Robbins was a tool.

He proved me wrong.

Tony impressively knows whats up!

Mon, 08/16/2010 - 17:22 | 524733 JLee2027
JLee2027's picture

Yes. 

Mon, 08/16/2010 - 15:38 | 524516 Pladizow
Pladizow's picture

Removed.

Mon, 08/16/2010 - 15:53 | 524546 Treeplanter
Treeplanter's picture

Bet Tony has a nice stash of PM.  And a list of ETF shorts he likes, etc.   Guys, is it too early to go TBT?

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