Successful Auction?

It would appear that the dealers who took down the 7 year paper just made a bundle. Good for them.  I feel sorry for the taxpayers though.

This is a sign of instability. Rates going down today may seem like good news. This is just volatility on the rise. Next week there is another ton of paper. This wild ride is not going to end.

Comments

[meichou]

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[Anonymous]

Actually I see the volatility and the shenanigans and I say, "I'm not playing this game."

I'd rather have a bigger piece of my own company, pay down my debts, or loan out my money to smaller enterprises where owning shares means something; where someone is answerable to me.

[Anonymous]

bruce bud who do you know at zero hedge? Can't believe they keep posting this stuff. Who cares about the 7 year?

[NHL]

Don't feel bad for the tax payer because you are one of them, if you live in the US. What you should do is to get together with folks and find a way to make some money, or at least get it back.

[Gilgamesh]

Don't have to pay very much if you don't voluntarily comply by mailing them a 1040.

Or a limited short-term opportunity to make some dough - there's a certain fella out having a beer today, and won't be back to his house anytime shortly.  Also, word is that police surveillance might be lighter than usual - and neighbors might be a little hesistant to call in suspicious activity.

[ghostfaceinvestah]

No question all this volatility is bad news.  The question is how will it manifest itself?

This is the problem I see for most readers of this blog - they see this, and automatically think "stock market selloff".

The stock market is irrational, and always will be.  Look at the dividend yield on SPY - 2.08%.  People are not buying stocks as investments, they are poker chips.

But when you look at the wild fluctuations in bonds, commodities, currencies, to me it paints a picture of a coming collapse in fiat currencies.

What that means for stocks, i have no clue.  I suppose some will go up and some will go down.

All I know is I want to get my wealth out of USD and into globally-desired commodities.

Bernanke painted the picture on Mar 18th - he would stop at nothing to prevent deflation.  But where all this money printing leads us, without a stable underlying economy, will be worse.

[Anonymous]

if there's a dollar collapse why would you want globally-desired commodities? You might think about getting some LOCALLY-desired commodities, you know, the kind that make loud noises and travel at high velocities.

Seriously though, in the event of the USD collapsing how long would you be able use the financial system? even then it's just 1's and 0's on a computer somewhere, goodluck obtaining the currency of your choosing. Maybe the rioters and looters will take a break so you can go to the burned out husk of a building they used to call a bank and request a withdrawal.

[gookempucky]

No question all this volatility is bad news.  The question is how will it manifest itself?

Truly bad news----end game maybe some one knows- maybe not.

Just as most folks do not even realize that the bond market dwarfs the stockmarket as does the FX----everything this planet buys sells eats drives yes even sex is driven or backed by some sort of bond issued at one time or another.

Christ when you see several 100 pip + or - swings intraday on any given currency pair is sheer lunacy--my choc ice cream tastes like vanilla--thats because it is.

Had to yank my Forex acc as my head couldnt keep up with the bobbing little doggie in the cars back window--all markets R rigged period.

something is awash in fiat land and it smells like burning fish.

Keep your guns ammo and specie close by

[Anonymous]

What do you think of unhedged foreign ETFs for hedging? Or WIP?

I can't decide to get out of stocks in fear of some collapse, or if they're already inflating against a falling currency, so I should ride along. I'm not sophisticated enough, or have enough liquidity, to put do much besides reallocate between stocks, bonds, or cash. My 401k options are the biggest POS you can imagine.

[Anonymous]

There has been no responsible fiscal housekeeping since Volcker in the 80's. Now it's just bubble after bubble.

Bernanke is already making Greenspan look like an amateur.

[Anonymous]

So your favorite author is Paul Krugman and Chomsky as well?

[packet_loss]

Does the fed hold off on buying until 1?