Bond

Strong 30Y Auction Stops At Lowest Yield Since October, 2nd Highest Indirects On Record

In a mirror image of yesterday's ugly, tailing 10Y auction, moments ago the Treasury sold the last batch of paper for this week, when it auctioned off $15 billion in 30Y bonds, in a strong sale which printed at 2.818%, stopping through the When Issued 2.819%, the lowest yield for the tenor going all the way back to October 2016 as the curve has aggressively flattened since then.

World Markets Slide Spooked By Latest N.Korea Statement; Dollar, Gold, Oil Jump

European and Asian market and S&P futures have resumed their slide, as geopolitical tensions between North Korea and the U.S. spiked again overnight after Pyongyang responded to the latest set of warnings by Trump, revealing a plan to fire 4 ballistic missiles at Guam by mid-August. Gold gains for a third day while Brent rose above $53.

Venezuela: Dictatorship, Collapse, And Consequence

"What's happening in Venezuela is a microcosm of the socialist cancer in action... It is not some self-contained rarity, it is the common and predictable outcome of a society based on collectivist servitude and false promises of equality."

The Secret History Of The Banking Crisis

"Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for?"

How Much Gold Should The Common Man Own?

"It’s curious that people are worried about gold but not the obvious bubbles that surround them. Media contributes to the ignorance by demonizing gold while praising bubbles."

Steve H. Hanke's picture

Why was international financial officialdom so eager to raise banks’ capital-asset ratios? The starting point for the global bank capital obsession is found in Britain and its infamous Northern Rock affair. Indeed, this was the true beginning of the Great Financial Crisis and the Great Recession.

"None Of It Was True": 103 Years Later, The FT Admits It Lied And Colluded With The Bank of England

On 23 November 1914, the Financial Times colluded with the Bank of England to cover up a failed bond sale, claiming that the UK government’s War Loan was "oversubscribed", with applications "pouring in." The FT described the auction as an "amazing result" that “proves how strong is the financial position of the British nation”. 103 years later we learn that it was all a lie.