135 Billion Pieces of Zero Yielding Junk On Deck
Unprecedented economic collapse? €0.69...
Unsustainable budget deficits? 1 ounce of gold...
Immaculately inexperienced administration? One Larry Summers bowel movement...
For everything else there is Tim Geithner.
And Tim is on fire - here is the sliced bread, er, Treasury auction line up for next week:
- $30 Billion 13-Week Bills December 7
- $31 Billion 26-Week Bills December 7
- $40 Billion 3-Year Bonds December 8
- $21 Billion 10-Year Bonds December 9
- $13 Billion 30-Year Bonds December 10
(2 votes)
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on Thu, 12/03/2009 - 14:24
#151151
lol
on Thu, 12/03/2009 - 15:58
#151351
I don't want you to talk, Mr. Bond...
I want you to die
on Thu, 12/03/2009 - 14:29
#151164
TLT confirmed that Krugman-induced right shoulder yesterday.
Approaching the neckline - watch the TA and momo traders jump all over the break lower.
on Thu, 12/03/2009 - 14:29
#151166
and that next week alone ..... staggering.
on Thu, 12/03/2009 - 14:30
#151169
this could be your finest post ever (if one equates "finest" with the post that made me snot diet depsi onto my blotter)
on Thu, 12/03/2009 - 14:31
#151171
One failed auction and the entire house of cards constructed by temp meth addicts on a foundation of sand comes crumbling down. Better hurry and get Ben confirmed.
on Thu, 12/03/2009 - 14:37
#151189
A significant portion of this debt is just monetized and offshore companies that are affiliated purchase much of the debt (shell game), there would only be a failed auction if they wanted the entire system to fail.
on Thu, 12/03/2009 - 16:05
#151375
Bingo!
An auction will fail, publicly, only if the Fed and White House go to war with each other.
We don't know how many auctions have in fact failed in private.
on Thu, 12/03/2009 - 15:12
#151270
Proceed to full monetization of all Treasuries. Devaluation to continue apace.
Begin full monetization of federal programs...
and loans to states...
and all UE, welfare, food stamp payments...
and all retirement and medical entitlements...
and equity purchases...
and banker bonuses...
have I left anything out?
Oh! and after EVERYTHING is monetized and money supply is stratospheric, announce new currency and exchange requirements. All old currency no more good.
on Thu, 12/03/2009 - 17:17
#151505
Destroy accounting. Destroy accountability.
on Thu, 12/03/2009 - 14:31
#151176
Which of those auctions will be the one to break the debt ceiling?
on Thu, 12/03/2009 - 14:36
#151186
"Yesterday's"
More or less.
on Thu, 12/03/2009 - 14:33
#151181
Don't forget the TAF maturities. There was about $32 bb today, with $17 bb rolled over. On Dec 17th, there are $56 billion in TAF (slosh) maturing.
on Thu, 12/03/2009 - 14:36
#151183
Who buys ... 35% domestic, 65% foreign ... or 90% US?
on Thu, 12/03/2009 - 14:37
#151188
Bids vs accepted will be higher than expected, rates slightly lower than expected, will go without the slightest hitch. Yawn.
If you're looking for signs of trouble, they will never appear here first - this periodic trip to the global debt store to stock up on some fresh money is fully controlled and the outcome is pre-ordained, as long as the printing presses run. Even the notion that it is an "auction" of well-informed, sophisticated buyers who are under no complusion to buy or sell is quaint and somewhat amusing.
on Thu, 12/03/2009 - 14:52
#151233
How many more times.
on Thu, 12/03/2009 - 14:39
#151193
Senator Judd Gregg (R- NH)
Is this guy in love with Ben?
on Thu, 12/03/2009 - 14:43
#151206
no, he's in love with his job offer from the Squid.
on Thu, 12/03/2009 - 14:44
#151210
@NedZeppelin this periodic trip to the global debt store to stock up on some fresh money is fully controlled and the outcome is pre-ordained, as long as the printing presses run. Even the notion that it is an "auction" of well-informed, sophisticated buyers who are under no complusion to buy or sell is quaint and somewhat amusing.
Most amusing indeed.
on Thu, 12/03/2009 - 15:10
#151262
Like gangrene, it is amusing only until it isn't.
on Thu, 12/03/2009 - 15:26
#151285
ok that's pretty funny.
on Thu, 12/03/2009 - 22:44
#151905
I had to laugh as well.
There's no lack of wit among the ZH crew.
Where ever man are strong,
all the women are good looking,
and every kid is above average.
-MobBarley
on Thu, 12/03/2009 - 14:51
#151228
psshhhh It's probably to finance the 30,000 troops in Afghanistan...http://abcnews.go.com/Blotter/president-obamas-secret-100-al-qaeda-now-afghanistan/story?id=9227861
We shouldn't have any casualties with the 10,000:1 ratio...lol
on Thu, 12/03/2009 - 21:23
#151804
Or you create a target rich environment. However you want to look at it.
on Thu, 12/03/2009 - 14:55
#151237
http://www.youtube.com/watch?v=kP9XGNyIYAY&feature=related
http://www.youtube.com/watch?v=HmWb0HPTB9A&feature=related
South Park predicted it... (best econ forecasters out there!)
on Thu, 12/03/2009 - 15:02
#151251
Markets will sell off to take down the supply, then rally after the auction when everyone and their brother gets in line to buy this shit.
on Thu, 12/03/2009 - 15:11
#151265
Same as last month.
on Thu, 12/03/2009 - 15:34
#151291
Yep. That is, unless Japan is seious about selling some of their Treasury holdings, too. That isn't going to help much, and I hope no one else decides to join them.
on Thu, 12/03/2009 - 15:05
#151255
OK here is how it goes:
1. "Negative" jobs figures out tomorrow
2. Dollar strengthens
3. Stock "markets" fall
4. Yields come in
5. All auctions go well
6. Dollar immediately gets weaker
7. And so on...
on Thu, 12/03/2009 - 15:14
#151271
We'll never have a failed auction because they stack the deck before they even let you know about the auction. Otherwise, it would have happened already.
And surely my cicrcular logic will have you folks in awe, LOL.
Anyway, you get my point.
on Thu, 12/03/2009 - 15:26
#151284
What is cicrcular logic? My head's spinning though.
on Thu, 12/03/2009 - 15:38
#151303
How would i survive without ZH black humor each day !
on Thu, 12/03/2009 - 15:53
#151335
Why does it have to be black?
on Thu, 12/03/2009 - 15:51
#151328
Uncle Ben and the Squid will chase every dollar out of equities before they let an auction fail.
on Thu, 12/03/2009 - 16:00
#151354
Fed has become not only the lender of last resort but the buyer as well.
http://www.fgmr.com/federal-reserve-buying-mortgage-backed-securities-debases-the-dollar.html
on Thu, 12/03/2009 - 16:32
#151424
For a fast summary of auction activity, there's Treasury Auction Watch over on Blogspot.com. It keeps a nice summary of data in one easy to access spot.
on Thu, 12/03/2009 - 16:54
#151467
I think a massive market sell-off will be coming very soon...to a theater near you. Rhodium has been selling off in a big way, and it's an early indicator. It's akin to the canary in the coal mine, and the reason is that it's so thinly traded. The volatility is a solid indicator of market direction.
on Thu, 12/03/2009 - 21:05
#151784
Wait, isn't the 6th the day that we get our new global overlords for the environment? How is it even possible to pack that much depressing news in one week?
on Thu, 12/03/2009 - 22:45
#151908
Will be interesting to watch GLD continue to rise even though the dollar may strengthen and then slide backwards again. I like the post where everything is monetized including my gallon of ice cream and then we start over with a new currency and the exchange of old to new will be decided by .... let's see oh yes - Madonna. She has as good a shot as anyone in our government for sure.