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I wonder what was the average yield of bids that were rejected?
I don't know, Dick... but there has to be a vampire joke in here somewhere. ;)
I vant to suck your bond.
"Twilight III - Return of the Failed Bond Auctions"
... it will either suck the life out of you... or be at least twice as worst as the sequel.
Looks like it's hard for the Romanians to get Lei-d.
Coming to a Treasury auction near you!
Default Bitchez!!!!! Show us how it's done.
Ohhhh!! and gulp
Can't make this stuff up.
Now it's PIG SHIRT?
I like PIG SHITR
(pointing "you know where")
Damn it man!...good one.
How long until "The quick brown fox jumps over the lazy dog"?
Too many 'O's
Is there such a thing?
Plenty of Os can default.
Didn't Brazil do the same yesterday?...not just a Euro contagen?
It's getting harder and harder for Ben and Timmay to hold it together.
When does Katla fire? /analogy sarcasm OFF/
Timmay's (or is it Timmah?) head may blow before Katla
Hold the line... hold the line... Oh crap... Retreat, retreat, retreat...
"Once more dear Meanies, into the breech! You're advancing the wrong way -- retreat, backwards!"
Yo guys, there's something wrong with your website software.
Could someone make a survey of how much was offered in government securities in May alone, by all the governments of the world? In dollars, please ...
All the governments are issuing lots of securities. Who will buy all this crap?
Someone is gonna have to default...
Could your request wait until next week? I'm kind of busy...
"Does anyone know if there is an iPad app that magically makes direct bidders appear whenever and whereever needed, leading to a 10x Bid To Cover at 0.00% for any bond auction?"
too late, the Fed already has the patent on this device, although it is available for licensing.
Looking for partners in a gold based iPhone app!
I am a developer of such apps.
Just like a said a few weeks ago, these European countries are automatically assuming a guaranteed bailout as are businesses. Just like Geithner keeps running his mouth about in his interviews. Just yesterday Geithner talked about processes for future bailouts. When you say this stupid stuff out in the public, what do you think people are going to do? We already know Geithner is a moron, along with Benny boy, but you have to be just a nincompoop to tell the world you are planning for bailouts. Last I checked, didn't we pass a bill that said no more bailouts? Its probably still sitting in the Congress as usual.
These Euro nations see one get bailed and then they say, okay its our turn. Refuse to accept any auction bids at any price, and call the IMF(Bernanke) and Geithner and say, Where is our bailout money? Geithner and Bernanke have opened pandora's box, and if Congress does close this door immediately, there are going to be very very bad things happening in the future. The very near future. This Congress must reel in this FED and TRSY and start laying down the laws. The CONSTITUTION. They are breaking these laws at will, while our leaders sit back with their fingers in their asses.
FYI One New Lei = $.29 USF
So auction was essentially $175 mill USF
As someone else said, so much for a boring day today.
Tangent: You have a concrete bunker?
Unfortunately I don't due to my proximity to sea level. I do plan on pirating a tri-hulled cat several scantily clad females and as much rum as possible and seek out an uninhabited island.
Headed to the Gulf are ya? Tar babies?
Hmm... hot oil wrestling. XD
Time for another episode of "Romanian Term Limits"?
Wasnt a guy sleepless at night at the idea of a failed auction? It was reported on this site.
I wonder if this guy sleeps better now because this is proving to be innocuous?
You know you can do things like reject abusive bids when your leaders are not a bunch of prostitutes afraid of being exposed for what they truly are. Slavs are tough. That leader will go tell the people we couldn't borrow the money reasonably so here is what we have to do and the people will go along. Not like here where every problem has to be hidden and covered up with PR and bogus statistics.
some slavs might be tough, but who's slav here?
...slavs are tough...
So are Romanians!
Not good news, but (at this point) it may merely be that want to market their securities more widely.
Why pay 7% now when you can just pay 3% to the IMF later?
Defaulting is the new austerity.
both HUF and RON getting slammed against the dollar. RON still supported by Central Bank's interventions but not going to hold...
Imagine! The utter audacity of anyone who would stand in the way of a nation's God-given right to roll over its debt in perpetuity at multi-decade low yields!
Plainly the work of a vast international cabal of speculators.
Money must not be allowed to find a price commensurate with its risk.
I am BlackSea in the h/t at the end of the article. Some more clarification on Romania.
They will adopt a draconian program of 25% cuts in government worker pay and 15% in all pensions (http://english.hotnews.ro/stiri-politics-7343547-austerity-measures-pack...) . This is done so they don't have to increase taxes on business for now. The IMF will continue to lend to them if they are under 6% in their deficit spending this year.
They know they're screwed, they just don't want to be PIIGS-screwed.
IMF was closing it's eyes and leting them get away with tricks like reducing the current definit by postponing payments to vendors from 30 days to 120 days. However, this March/April the IMF changed its tune and looks to save the center of Europe and sacrifice the periphery. That's why the huge austerity program is there.
I agree with your clarification. As a matter of fact, we speak the same language ;-)
Glad to hear it. "O seara placuta"
o seara placuta la toti
placerea e de partea mea
garlic makes the world turn round
I'd like to see us take some of those "draconian" measures in the U.S.. I know they're a little over the top. Hard to imagine cutting government to protect business.....
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