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PIMCO Denies Unfounded Rumors It Is Buying Bonds

Tyler Durden's picture




 

Just to set the record straight following various spurious and less than credible reports floated in the peripheral media this morning, El-Erian sets the record straight on a Bloomberg radio interview.

  • Pimco's El-Erian says Pimco not buying US treasuries

So simple a caveman can understand it.

 

 

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Tue, 04/19/2011 - 10:01 | 1183619 lizzy36
lizzy36's picture

So what or who pinned the 10 year yesterday?

Tue, 04/19/2011 - 10:05 | 1183631 Tyler Durden
Tyler Durden's picture

Fed accumulating TYZ1 long strangles. Pimco on the other side. Head on collision imminent.

Tue, 04/19/2011 - 10:08 | 1183655 FOC 1183
FOC 1183's picture

Apparently pinning 10yr eur cds not quite as easy

Tue, 04/19/2011 - 10:13 | 1183682 RichyRoo
RichyRoo's picture

Where does the FED invest its pension money? Do they care about it?

Tue, 04/19/2011 - 10:14 | 1183688 Sudden Debt
Sudden Debt's picture

The Cayman Islands.

 

 

Tue, 04/19/2011 - 10:23 | 1183740 nonclaim
nonclaim's picture

Where does the FED invest its pension money?

Enslavement.

Do they care about it?

If you mean moral issues, no.

Tue, 04/19/2011 - 12:12 | 1184266 disabledvet
disabledvet's picture

awwww.  don't tell me you are still non-claimed.

Tue, 04/19/2011 - 10:18 | 1183702 nope-1004
nope-1004's picture

I knew it was a lie when I heard it.  But that's how our gov't moves the markets these days.... through rumors, innuendo, and propaganda.

Tue, 04/19/2011 - 10:26 | 1183758 whatsinaname
whatsinaname's picture

OT: here is a comment from the message boards on a yahoo oil pump (and now force dump) article ---

Like Oil Everything Must Peak --- Obama Peaked in Early 2009...

 

Hope and Change ...... in 2008

... Worthless in 2011

Tue, 04/19/2011 - 10:14 | 1183679 spiral_eyes
spiral_eyes's picture

the federal reserve is now the world's biggest hedge fund. 

Tue, 04/19/2011 - 10:38 | 1183824 jus_lite_reading
jus_lite_reading's picture

Thats what has got me worried! WHAT THE HELL happended to the 10s5s? Taken out and shot and all of a sudden TIMMY TURBO GEITHNER says the US is RISK FREE?!?!?!

Tue, 04/19/2011 - 11:16 | 1184038 Astute Investor
Astute Investor's picture

Agree PIMCO is on the other side, but wouldn't the Fed be SHORT TYZ1 strangles?

Tue, 04/19/2011 - 11:52 | 1184189 disabledvet
disabledvet's picture

there was an "atmosphere of an assassin" being present going into this S&P "warning."  "We were warned" were we not...on this site no less!...that "Goldman Sachs is coming for us."  A compliment indeed, yes, yes?  So far I'm unimpressed if this was some sort of "entry point" to "get in the game" as Cramer says.  It is interesting to "think of this as an entry point for PIMCo" but "you don't just move a trillion dollar FIXED INCOME portfolio" based upon "Standard and Poors."  No...S&P's "warning" reeks of at a minimum incompetent timing (hello!  there goes your debt ceiling morons!) or just plain "info" incomptence as "it is not news that projections of economic growth are being revised downward."  What would be news is "equity markets reject said news and push higher" as "the Janus coined rally" remains intact.

Tue, 04/19/2011 - 10:05 | 1183629 Id fight Gandhi
Id fight Gandhi's picture

Who started the rumor? That's the question.

Tue, 04/19/2011 - 10:13 | 1183674 holdbuysell
holdbuysell's picture

Ask CNBS for their source....they discussed this today.

Tue, 04/19/2011 - 10:19 | 1183705 nope-1004
nope-1004's picture

Geithner.

 

Tue, 04/19/2011 - 10:25 | 1183745 The Hawk
The Hawk's picture

I cannot stand listening to Geitner or most news ppl for that matter.  I watched him on Meet the Press and the garbage coming out of his mouth made me want to jump through the TV and kick him in the nuts!  I'm not sure anymore if they actually believe the shit coming out of their mouths or if they know its all bullshit.

Tue, 04/19/2011 - 10:27 | 1183766 The Count
The Count's picture

 

Geithner, Obama... There is a pattern here. Weak, gullible meat puppets that can be told to do whatever the guys in the shadows want.

 

Tue, 04/19/2011 - 10:33 | 1183783 DeadFred
DeadFred's picture

Go with "they know its all bullshit".  They're not stupid.  They just think most of us are.  When someone is lying to you and you know they know they're lying it's time to protect your wallet.

Tue, 04/19/2011 - 10:40 | 1183823 The Hawk
The Hawk's picture

The thing is most people are to stupid or ignorant to know its all BS... People think times are tough now... At least in the depression they still knew how to survive with nothing.  Without a McDonald's to pull up to what are people going to do?  Or better yet no government check in the mailbox every month?  Poor little fellas...

Tue, 04/19/2011 - 10:46 | 1183858 el Gallinazo
el Gallinazo's picture

Can people lie to you and not know that they are lying? Doesn't that just make them stupid or ignorant? Just a comment from the Dept. of Redundancy Dept.

Tue, 04/19/2011 - 11:17 | 1184049 The Hawk
The Hawk's picture

Maybe... It starts off as a lie but they say it so many times and are always in "character" that they start to believe the crap coming out of their mouths. I've had a few friends like that... it's weird.  

Tue, 04/19/2011 - 11:45 | 1184159 NotApplicable
NotApplicable's picture

 “When I use a word,” Humpty Dumpty said, in a rather a scornful tone, “it means just what I choose it to mean—neither more nor less.”
    “The question is,” said Alice, “whether you can make words mean so many different things.”
    “The question is,” said Humpty Dumpty, “which is to be master      that’s all.”

Tue, 04/19/2011 - 10:09 | 1183646 Rainman
Rainman's picture

Going to zero on UST was a clever hoax from the outset.

Tue, 04/19/2011 - 10:10 | 1183656 CD
CD's picture

But wait, doesn't the official denial constitute absolute certainty...? ;-)

Tue, 04/19/2011 - 10:12 | 1183667 4shzl
4shzl's picture

Exactly.

Tue, 04/19/2011 - 10:15 | 1183657 Youri Carma
Youri Carma's picture

Since I am a caveman I can understand it :)

I also want to dismiss the idea we all came from Africa. That's just impossible since I know my family is even too lazy to walk to the door let alone all the way from Africa ;)

Our family are all caveman Neanderthalers with little brains and big noses but with good appetite. :)

Tue, 04/19/2011 - 10:30 | 1183770 web bot
web bot's picture

I'd like to see you go head to head with Geithner, but I know they won't let you.

Tue, 04/19/2011 - 10:10 | 1183669 RobotTrader
RobotTrader's picture

As of right now, bonds remain in a 35-year bull market.

And that bull market is likely to continue unless stocks take off from here and make new highs.

As long as we remain in a trading range, there will always be a maniacal bid to get into Tresuries at the slightest whiff of a possible 15% correction in the SPY.

Tue, 04/19/2011 - 10:16 | 1183691 HamyWanger
HamyWanger's picture

Must agree with my bro' Robot on this one. 

A 35-year bull market in bonds/stocks/real estate is normal and set to last, but it would be a bubble for precious metals and canned ham.

Why? Because this is the rules of the game. Lunatic goldbugs need to deal with it: the Pigmen will always bend the rules and print infinite fiat to maintain the "status quo" 

Tue, 04/19/2011 - 10:23 | 1183726 spiral_eyes
spiral_eyes's picture

bernanke is playing king canuut. gonna get fucked up by a tsunami of reality. you can't eat a 10-year. nor an ipad. you can't print your way to economic prosperity. that will be the key lesson of the post-1971 world, surely to be forgotten when the new chinese empire (who started this fiat game a millennium ago) print their prosperity away in 100 years just the way we are doing now.

Tue, 04/19/2011 - 11:58 | 1184214 disabledvet
disabledvet's picture

we havn't had a bubble in gold for some time now.  canned ham even longer.  interestingly "gold is mugging real estate."  did someone claim gold is money 'round these parts because no matter how often i'm told by government officials "i sure don't believe debt is money."

Tue, 04/19/2011 - 10:19 | 1183703 Robot Traders Mom
Robot Traders Mom's picture

Seriously, stick to just being a dipshit because you know NOTHING about the bond market.

Fucktard.

Tue, 04/19/2011 - 10:29 | 1183773 whatsinaname
whatsinaname's picture

Hey Mommy, did the Thom(p)son twins get their diapers on right ? They are gonna need them soon.

Tue, 04/19/2011 - 11:21 | 1184066 buzzsaw99
buzzsaw99's picture

Funny, that is the first thing it has written that actually made sense.

Tue, 04/19/2011 - 10:21 | 1183717 Iam_Silverman
Iam_Silverman's picture

"As long as we remain in a trading range, there will always be a maniacal bid to get into Tresuries at the slightest whiff of a possible 15% correction in the SPY."

Plus, as long as they maintain at least an investment grade, many of the "Stable Value" funds can find little else to buy and still meet their stated aversion to risk, offering small (yet predictable) returns, while preserving the clients principal.  GIC and Synthetic GIC have only so much volume......

Tue, 04/19/2011 - 10:26 | 1183755 Youri Carma
Youri Carma's picture

Housing was in a bull market too.

And what about: FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields http://youtu.be/ZnZnkaq8Nf8   Doubling Down To (DXY) Zero: Has The Fed, In Its Stealthy Synthetic Bet To Keep Long-Term Yields Low, Become The Next AIG? http://www.zerohedge.com/article/did-fed-its-stealthy-synthetic-bet-keep-yields-low-become-next-aig

 

Tue, 04/19/2011 - 11:30 | 1184096 rufusbird
rufusbird's picture

Thanks for posting that, I was telling friends about it but couldn' t find it. Now I know why. I was able to send them the video link. Worth watching...

Tue, 04/19/2011 - 10:47 | 1183849 SheepDog-One
SheepDog-One's picture

OH I see....Robo is suddenly a bond hoarder! Oh sure.

Hey Robo where'd you get the new pic of tangerine tits there, and what happened to catfishmouth? She was far better.

Tue, 04/19/2011 - 12:00 | 1184224 disabledvet
disabledvet's picture

you forgot to add "ARF! ARF!"

Tue, 04/19/2011 - 10:11 | 1183673 virgilcaine
virgilcaine's picture

ZH..He's been doing a great job..

Tue, 04/19/2011 - 10:25 | 1183743 web bot
web bot's picture

in other words... CNBC.

Tue, 04/19/2011 - 10:37 | 1183814 Josh Randall
Josh Randall's picture

PIMPCO probably started it themselves -- oh wait, nevermind ya it was Liesman

Tue, 04/19/2011 - 10:35 | 1183775 virgilcaine
virgilcaine's picture

There has been a bear mkt in bonds for the last  10 Yrs in terms of purchasing power via the declining Dollar. You lost if you wern't in precious metals, it's as easy as that. 

Take a look inside any of your local small-med size  Banks for activity, they are museums due to ZIRP. 

 

Tue, 04/19/2011 - 10:34 | 1183805 gordengeko
gordengeko's picture

Nice touch TD, that made me laugh.

Tue, 04/19/2011 - 10:58 | 1183922 monopoly
monopoly's picture

This casino is so broken I have no interest in it outside of miners, gold, silver. Gives me that warm fuzzy feeling. Long way to go. And I just buy more physical on dumps. Been a while for that. But, it will occur.

 

Tue, 04/19/2011 - 11:00 | 1183936 TruthInSunshine
TruthInSunshine's picture

All I have to say is that the last decade has been a wild one.

I'm more cynical and much wiser for everything I've watched.

But the last two years and the last 6 months, especially,....well.....adjectives are hard to find to fully impart the meaning I would need to convey regarding my thoughts.

Madoff was absolutely correct when he stated that the economy right now - and the ways by which The Bernank & the government are propping it up - are the biggest Ponzi Scheme the world has ever known.

Tue, 04/19/2011 - 11:01 | 1183966 jkruffin
jkruffin's picture

Anyone know where the little guys like us can buy Greek bonds?  I might just throw a few duckies at some, if I can find out where you can get them.  Any info is appreciated, thanks.

Tue, 04/19/2011 - 11:11 | 1184004 mogul rider
mogul rider's picture

Walmart

Tue, 04/19/2011 - 12:05 | 1184248 disabledvet
disabledvet's picture

Johnny Neutron ATTACKS!

Tue, 04/19/2011 - 11:13 | 1184016 mogul rider
mogul rider's picture

Truth and reconciliation,

Truth is the truth if you believe it's true.

 

I kind a like lynching in the town square

Tue, 04/19/2011 - 11:17 | 1184036 velobabe
velobabe's picture

university of colorado has chipolte CEO to speak at 2011 graduation. guess McDonalds CEO is speaking at Stanford. all these recently BA'ed students get talked to about how they can come work at the $10. chicken burrito place. man, have we gone downhill or what!

Chipotle CEO Steve Ells to deliver CU-Boulder's graduation address

Tue, 04/19/2011 - 11:40 | 1184146 TruthInSunshine
TruthInSunshine's picture

McJobs in McAmerika.

Hope & Change.

TBTF or Bust.

Tue, 04/19/2011 - 11:49 | 1184183 Printfaster
Printfaster's picture

Hey Velo

BLS redefined burger preparation as a manufacturing job, not a service job.

Bring more manufacturing back to the US.

Tue, 04/19/2011 - 14:08 | 1184913 gmrpeabody
gmrpeabody's picture

CU in Boulder.... 'nuf said.  ROFLMAO!

Tue, 04/19/2011 - 11:58 | 1184226 virgilcaine
virgilcaine's picture

Mcd's University Graduate.

Tue, 04/19/2011 - 12:03 | 1184243 Geoff-UK
Geoff-UK's picture

Charles Hugh Smith would say that PIMCO is lying, and that Geithner (if he's the leak) is telling the truth.

 

Someone tell me why CHS is allowed to post here, again?

Tue, 04/19/2011 - 12:21 | 1184324 disabledvet
disabledvet's picture

All right, all right:  "you want to believe.  you REALLY want to believe."  So here's the question then:  "if Bill Gross himself were given the heads up--having been OPENLY negative on Treasuries for MONTHS now" what would he say?  Would he say "heh, heh, heh--now I will BUY Treasuries!"  Or would he just say "thanks!" and spend that extra 25 grand on the "beautiful limestone chimney" his wife has been pestering him about?

Tue, 04/19/2011 - 16:31 | 1185587 rawsienna
rawsienna's picture

nope.  They are buying longer duration MBS again -technically not treasuries.

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