• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Weak 3 Year Auction Closes At Lowest Bid To Cover Since February, Highest Primary Dealer Participation Since February 2009

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 10/12/2010 - 13:20 | 643580 HarryWanger
HarryWanger's picture

Stocks reacting a bit positive toward that. Of course, stocks act a bit positive toward anything.

Tue, 10/12/2010 - 13:43 | 643647 carbonmutant
carbonmutant's picture

Sounds like a Pollyanna market...

Tue, 10/12/2010 - 13:23 | 643587 Cognitive Dissonance
Cognitive Dissonance's picture

The "all is well" illusion is still holding Tyler, though it's getting a bit shaky. But we must always remember that it's not the captain nor crew that's keeping the Titanic afloat. It's the 1st class passengers who are keeping the old girl from sinking solely by strength of desperation.

We can all muster enough courage for several trips alone through the gave yard. It's an entirely different matter to keep a steady nerve when nearly everyone else is running in the opposite direction. The longer this goes on, the more jittery the elite become. Contrary to the popular notion that the longer a trend holds, the stronger it is, the longer the USA can maintain the illusion, the more likely it is that the natives will bolt for the door at the first sign of Casper the friendly ghost. 


Tue, 10/12/2010 - 13:35 | 643622 AccreditedEYE
AccreditedEYE's picture


Tue, 10/12/2010 - 14:16 | 643694 DUNTHAT
DUNTHAT's picture

With all the studies out showing the minimal impact QE 2 will have on the economy, is  the Fed capable of dumping all of that QE leverage into the stock market -- exclusively -- creating a massive stock-wealth effect bubble-- that lifts not only the stock market, but the housing market, and the commodity market, re: late 90's early 2000.  From their perspective, down the road, it would be easier to deal with a hyper inflated stock bubble, than a hyper deflated economy.

Wed, 10/13/2010 - 06:12 | 645568 BorisTheBlade
BorisTheBlade's picture

It's the 1st class passengers who are keeping the old girl from sinking solely by strength of desperation.

Nevar forget: http://en.wikipedia.org/wiki/RMS_Titanic#Survivors.2C_victims_and_statis... , there won't be enough lifeboats for everyone, so this old lady is kept afloat only until those who deserve to be on them take their seats.

Tue, 10/12/2010 - 13:23 | 643588 crzyhun
crzyhun's picture

Is this a QE2 indication? AS in why load up when when it hits the rocks these will too?

Tue, 10/12/2010 - 13:24 | 643590 tahoebumsmith
tahoebumsmith's picture

More freshly printed cash going out the back door at nearly 0%...This old man, he played ten.He played knick-knack once again.With a knick-knack, paddy whack,Give a dog a bone.This old man came rolling home.

Tue, 10/12/2010 - 13:28 | 643601 themosmitsos
themosmitsos's picture

When you're the US, you can have failed auctions without them being failed auctions, unlike lil ol Greece

Tue, 10/12/2010 - 13:31 | 643609 trav7777
trav7777's picture

I guess the Households out there gobbling up all the bonds were just on vacation still...

Tue, 10/12/2010 - 13:40 | 643638 buzlightening
buzlightening's picture

LOL! Dog ate the bids!! Nothin but Dinkers! Dollar inkers to infinity!!

Tue, 10/12/2010 - 13:38 | 643635 shushup
shushup's picture

So have indexes been at a complete stand still for the lat 2.5 hours waiting hear the lat Fed Minutes? Those minutes are so "Last Year" considering all the fed blabber mouthing that's been going on for the last two weeks.

Tue, 10/12/2010 - 14:06 | 643658 HarryWanger
HarryWanger's picture

And off to the races we go. As I said, everyone acts "surprised" when Fed says they discussed QE2. Now markets react as if they never thought it was possible. LOL!

Tue, 10/12/2010 - 13:40 | 643639 AccreditedEYE
AccreditedEYE's picture

They cannot pump risk assets and continue to believe they can keep the ponzi financed thru treasuries. They have no option... if they want to stay alive they need to NOT allow QE. (And the hole treasuries will leave in bank balance sheets on rising rates....)

Tue, 10/12/2010 - 14:06 | 643657 DarkMath
DarkMath's picture


Can you guys start a Internet Video news channel to compete with CNBC? I'm sick of watching CNBC. I want to vomit.

If ZeroHedge could go video and give CNBC competition I think we could turn this once great nation off of its present course.

Tue, 10/12/2010 - 14:09 | 643668 RobotTrader
RobotTrader's picture

Way too many "pros" trading on fundamental macro themes are short and spitting up blood.

And they refuse to close their trades.

An example of one such person found here:


Note the smug arrogance in his voice.

No wonder short interest is skying.....too many are very negative on the market right now.


Tue, 10/12/2010 - 14:16 | 643690 reading
reading's picture

Ha, and your smug arrogance? Face it robo everyone thinks they're right.  Only time will tell.  And where, exactly, are you finding all these "very negative on the market?" If anything you can find those that are apathetic...most have no day to day feelings on it at all.  

Tue, 10/12/2010 - 14:32 | 643781 Jim B
Jim B's picture

Dear Ben

    No you can not use my money and pay me 0.569%!


Tue, 10/12/2010 - 15:02 | 643908 whatsinaname
whatsinaname's picture

Dear Jim

I understand your concerns. Wait till I pay you 0.2% and sorry but your money is really my money.


Tue, 10/12/2010 - 14:38 | 643814 Robslob
Robslob's picture

As long as "people" are buying stocks there is no bubble...I mean market...uh wait I meant....

Do NOT follow this link or you will be banned from the site!