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$42 Billion 5 Year Auction Closes At 2.54%, 2.75 Bid-To-Cover, Directs To The Rescue Rescue Again
- $42 Billion in 5 Years auctioned off at 1 PM
- Yield of 2.540% versus expectation of 2.532%, 2.568% previously
- Bid To Cover of 2.75, versus 2.55 previously and 2.7 average
- Indirect take down 48.92% versus Average 47.58 and 39.66 previously
- Directs come to the rescue again with a fresh record take down of 14.3%, 10.8% previously and 7.1% average
- Primary Dealer hit ratio at 2010 low of 20.26% after PDs bid $75.94 billion and were allotted $15.39 billion
- 90.56% allotted at high
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Paging Mr. Barofsky....
Anyone need to ask why the markets were goosed yesterday, then all of a sudden today everything is back to business as usual on Scam St.?? Wonder how they plan to deal with the 7yr tomorrow? Late day crash of the markets now that the 5yr auction is done?
Still got the Fed announcement. No change in stance/wording will rocket us higher I think.
Hyperinflation is a hellava drug.
Before responding to the virtually ubiquitous ZH poster "HarryWanger", please be aware of just whom and what you are dealing with in this person:
http://www.minyanville.com/businessmarkets/articles/AAPL-apple-gm-psycho...
His real name is James Kostorhyz, and he is here posing as a troll in dishonesty and in disregard for the fundamental purposes of this forum. He is NOT posting here in good faith, but is purposely antagonizing those with independent, anti-establishment views and opinions for his own selfish and cynical purposes, as part of a study on "the psychology of permabears".
He believes that anyone who opposes the current widespread fraud, corruption and rampant lies within our societies and governments are "utopian" and unrealistic, pollyannish dreamers.
And for those ZeroHedgers who are advocates of sound money backed by gold, this bankster shill is already out there with one of the most disingenuous, dishonest pieces of pro-establishment propaganda on the topic, expounding on how such financial integrity is "impossible", and merely "the rants of an ideological fringe":
http://finance.yahoo.com/news/The-Gold-Standard-Solid-as-minyanville-285...
Please do NOT respond to this reprehensible troll, here or anywhere else on ZeroHedge. He is NOT here in good faith, and should be shunned!
Why doesn't the press ask who these "direct bids" are from?
Why doesn't the press ask why the FED is saying that "households" are buying all the treasuries, when US households are not?
ratings. who would watch/read a report on that other than us?
Am I now to believe that the avg US citizen is 'saving' - ie buying Treasury debt, and yet still consuming (hence the manic run in retail stocks)? Ahh, they're using the interest from their Treasury purchases to fund their retail activity.
HAHA Nice!! I got a pack of gum on layway at Big Lots. I told them as soon as I get my monthly interest payment off my TRSY note, I will come pick it up and pay it off in full. LOL
You can only drink your own pee for so long. I'm afraid Ben is going to find that out pretty soon - pity for us we're going to be the ones with the fatal infection as a result.
Haha.
"Did you know that urine is sterile? Thats right...you can drink it!"
Tyler Durden's PSA:http://www.youtube.com/watch?v=NWFXf2qjXeg&feature=related
That's always good to know........I think.
It's good for heating the tea of people you hate
Classic LH...
Richard Feynman proved in college that the human bladder does not work on the basis of gravity. He demonstrated by standing on his head and urinating...
Real Useful Physics from the man that gave you QED...
"You can only drink your own pee for so long."
There Is a Career Path to Drinking Your Own Urine
In a nameless Cali university town, a broke student used to raise money by reading poetry, performing music and getting revelers at frat parties to all chip in dollars to watch him drink a cup of beer and his own urine...
He went on to become a student senate member, complete his degree, be a successful retail manager for a Unilever subsidiary... and a two time city council candidate.
I voted for him...
100+ believe me your thirst is never quenched
bloomberg....analyst just said everything is fine now as the treasury is "overfunded".......
i kid you not.
You can never have too much of Uncle Sugar and Brother Fed
Crack don't smoke itself. And Bloomberg apparently has a lot of aluminum foil pipes laying around.....
was on phone with a pimpco rep the other day. when asked if things were to go to hell next year, I almost had the phone slammed on me. gross and friends anticipating armageddon ?
What is a country to do when it is about to hit a concrete wall when it comes to debt refinancing?
It calls on its rating agencies to quasi declare a few nations bankrupt and cause a "flight to safety" which will bring massive liquidity back to their own debt auctions.
Because the rating agency is still saying US debt is AAA. Same agency that said mortgage backed securities were a helluva deal.
Who the fuck are they kidding? When did the FED induced liquidity party officially end? March 31st. Now they need to attract buyers which could otherwise buy Greek debt, God forbid.
The Fed can print unaudited, has access to rating agencies and pretty much every trade is in their favor.
What could possibly go wrong?
What else can be done ? That's their story and their sticking to it. At this point their is no chance that they can reverse course. It is more monetization in response to whatever sovereign or corporate weakness is encountered. However, I guess you can't really manipulate a reserve currency, can you?