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$23 Billion 10 Year Auction Results
Results out: only $14.4 billion indirects tendered out of total $57 billion competitive. Of the $14.4 billion, $10.4 billion was allocated. Indirect bids 45.7% vs. Avg. 35.25% (Prev. 32.11%). Indirect bid-to-cover was 1.39. Overall bid-to-cover including highly motivated primary dealers was 2.49. Allocated at 3.734% high yield vs expected 3.708%.
6 bps widening in a disappointed market. A weak auction that drives equities higher. Red bull must be flowing in the momo desks today.
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Thanks TD, that was quick.
+1
$181billion deficit in July
that's $5.84billion a day
or $0.24 billion every hour!!!!His message was being spread and gaining even more support...therefore he needed
to be censored.
good articles;
target="_blank">my newest bookmarked finance website
href="http://www.iamned.com" target="_blank">finance news & finance opinions
Tyler,
This is the best coverage of an auction I have ever seen. Better than Bloomberg when you show the bid to cover ratios of Indirect Bidders - ex the highly motivated banksters
Much appreciated
You mean 2.49 times, not 2.49%, right?
Those "indirect bidders" don't seem to be too terribly price sensitive, now, do they? Especially if you compare them to the PD's.
And still, the auction comes out slightly disappointing. Who in the heck is left out there, anyway???
You mean 2.49 times, not 2.49%, right?
yes
Print, print, print.
Why is Wal-Mart minus 9.6% YTD, if the economy is recovering? Is it because consumers are starting to upgrade again to high end retailers, after money literally started falling from the sky. ;-)
As God as my witness, I thought turkeys could fly!
DLTR is up almost 12% YTD and NDN is up 31% YTD.
In an effort to stimulate the housing industry, the fed is going to drop inexpensive Chinese made hammers on US cities from 40,000 feet.
What cnbc glossed over re: the "tail" was the rip in yield right before the annc.
yield jumped from 3.68 to 3.71 right before the annc so that the 3.734 gave less of a tail then it appeared.
chicanery.
Yep. Gotta give it to those freshly hired traders at the Fed.
oh come now--how can you be against something that was so sweet to trade?! if they're going to juice the bond markets, at least it's nice they do it in a way that also allows retail to print some money from it ;)
(sarcasm, except the bit about trading this. daddy got to clock out early today, oh my...)
How are the mortgages doing?
Here we go. At the accelerated fed lending rate we have just over a days worth of juice for the system. The system is going from auction floating 3 days with 2 days to manipulate and pad to every day having to succeed.
http://www.321gold.com/fed/temp_bank_res.html
Getting dangerously close to the day where ATM machines stop spitting out money and checks bounce because the bank doesn't have the money.
The money will always be there, it just wont be able to buy anything.
If you arent going to buy silver or gold, at least invest in a wheelbarrow....
Is this an inflection point?
FED will announce expand/abandon QE. Expand DXY trapdoor.
Abandon no more RE/CRE mortgages and trickle of loans evaporate.
Cross of gold, sacrifice the currency or credit expansion.
Denninger says latter.
http://market-ticker.denninger.net/archives/1325-Prognostication-FOMC-In...
I think the latter (abandon QE) is a Denniger "wish". Come to think of it, it's my wish as well.
Former option is politically easier for Uncle Ben, though.
My Denninger Index, which tracks the number of anal fissures on Denninger's rectum due to his unmitigated ranting while sitting on his fat ass all day, indicates a relatively short-lived period of stability immediately ahead, followed by wild volatility in the equities markets and a complete dollar collapse by November 5.
I am Chumbawamba, and I am going out to buy more ammo for the new additions soon.
I wish I were Chumbawamba and could write posts like that.
I am Ev, and I need to go on a creative writing course.
$181billion deficit in July
that's $5.84billion a day
or $0.24 billion every hour!!!!
Green shoot!!!
green shoot, buy buy buy
Help people by stop QE saving purchasing power OR,
continue to fund gov't and maintain power by expanding QE.
When has a duplicitous, self serving King ever chosen the benefit of the people over his own?
Your answer, sir.
Anyone get that nagging feeling that stocks will skyrocket no matter what the Fed announcement says?
Things are getting better --> skyrocket
Things are bad but that means we will keep backing up the dump trucks of fiat cash --> skyrocket
Things actually got worse but at a lesser rate than if they were really bad and not getting better at all --> skyrocket
Money will be free until 2072 --> skyrocket
I swear, the Fed has the easy job in the world: open your mouth, and you are somehow considered a genius and saviour.
When you look to the government for a solution you have already failed.
good quote, totally gonna steal that from ya
Does the Fed publish WHO is buying and What they bought in any given auction? Further break out of "direct" Vs. indirect, Domestic Vs Foreign Primary Dealer???
Now, why would the Fed do a stupid thing like that?
Transparency isn't thier strong suit.
"The last duty of a central banker is to tell the public the truth"
Okay then. Public, we're f*cked.
Love,
Uncle Ben
Is the fed funneling money to the overseas central banks?
No, that's china ;)
It still amazes me that 2-2.5 bp tails are considered "normal" now.
Does anyone know how much of the $300 billion has been purchased thus far?
Exactly. I mean if a elected/appointed public servant was on that list we would no doubt want to block its release. I mean we wouldn't want that type of
His message was being spread and gaining even more support...therefore he needed
to be censored. good articles;
target="_blank">my newest bookmarked finance website
href="http://www.iamned.com" target="_blank">finance news & finance opinions