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2 Year Auction Prices At New Record Low Yield Of 0.222%, Well Inside Of 3 Month LIBOR

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Tue, 08/23/2011 - 13:17 | 1590884 HelluvaEngineer
HelluvaEngineer's picture

Why are these bond guys so dumb?  Don't they know it's time to BTFD in equities?

Tue, 08/23/2011 - 13:23 | 1590905 ZeroPower
ZeroPower's picture

Bonds > Equities, in so many ways.

Tue, 08/23/2011 - 13:24 | 1590909 Silver Bug
Silver Bug's picture

Bonds are by far the biggest bubble in our current history. People who imply Gold is in a Bubble have no idea what they are talking about. Who in their right mind would invest in these bonds?!



Tue, 08/23/2011 - 13:26 | 1590919 malikai
malikai's picture

You are, by force. Just as I am, by force. Even though we don't know it.

Tue, 08/23/2011 - 14:47 | 1591517 spiral_eyes
spiral_eyes's picture

watch these yields SHOOT UP when the market finally clocks bernanke is stuck between a total crash and the chinese and russians saying NO to qe3, and realising that those treasuries ain't safe at ALL.


Tue, 08/23/2011 - 13:24 | 1590913 MillionDollarBonus_
MillionDollarBonus_'s picture

Well at least we can rely on a fair LIBOR rate since it is set by PROFFESIONALS at a few selected elite banks. The bond rates on the other hand are set by the markets which unfortunately include a lot of ignorant libertarians who refuse to recognise our congress' ability to manage complex issues, depsite their repeated demonstrations of courage and perseverence.

Tue, 08/23/2011 - 13:27 | 1590922 malikai
malikai's picture

Now that's how to troll.

Tue, 08/23/2011 - 13:29 | 1590933 Terminus C
Terminus C's picture

Is this Hamy's latest incarnation?

Either way, your trolling attempts are pathetic at best.

Tue, 08/23/2011 - 13:39 | 1590993 topcallingtroll
topcallingtroll's picture

That is not trolling.

That is very deep satire.

Hi Hamy!

Tue, 08/23/2011 - 13:20 | 1590887 TruthInSunshine
TruthInSunshine's picture




Economy is in a depression.

Real UE is 20%+

GDP is probably running at -4% to -5% YoY rate (soon to be running at -7%+).

Housing sales are at an ALL TIME LOW with this 'recovery' melting down like Fukushima: 


Wall Street Journal (blog) - Dawn Wotapka - 5 minutes ago

Sales of new homes fell again in July, hitting the lowest level in five months and keeping the sector on track to again report the lowest annual sales since record keeping began in 1963.

The banking-financial and equity markets are about to enter a WORSE crisis than what we saw in 2008.

And the developed nations are trying to dig themselves out of a very deep hole by pissing upwardly (with China not knowing what to do in the face of the crises they face).


It's all about jobs, wages and the middle class, and ObaMao, Jeetner, Bernankstain and CONgress can't do anything about J-O-B-S when the multinationals own the globe (because they, with their european counterparts, gave the multinationals the keys to the joint).


Tue, 08/23/2011 - 13:25 | 1590915 SeverinSlade
SeverinSlade's picture

This is all bullish for stocks.

Tue, 08/23/2011 - 13:22 | 1590900 DonutBoy
DonutBoy's picture

This is insane.  Undisciplined fiat currency has destroyed all price discovery.

F**k.  I have to buy more gold.

Tue, 08/23/2011 - 13:26 | 1590918 youngman
youngman's picture

Lots os under jobbed Real Estate agents out there....I remember when every housewife had a license...I would assume the ranks have dropped off as the license fees and insurance is very expensive...I wonder if commissions are dropping also...still 6% is bad....should be 2% with computers now....

Tue, 08/23/2011 - 13:36 | 1590969 TruthInSunshine
TruthInSunshine's picture




2% for opening the door, handing out a flier, and saying:

"And this is the kitchen. Notice all the cabinets? Here's the refrigerator. Now, let's go stare at the bathroom."


Real estate commissions are on the Extinction List.

Tue, 08/23/2011 - 15:22 | 1591680 LawsofPhysics
LawsofPhysics's picture

I agree, cash and carry is coming back in my neck of the woods.  To expand upon this, think of it this way, there are too many middle men (Banks banks and brokers of all sorts) between those with real capital or money and those of us that know how to make things or provide services of real value.  Time to get those "keys" back motherfuckers.  We can either do this the easy way or the hard way.  My guess is the "middemen" won't go quitely into that good night.  Fuck em.

Tue, 08/23/2011 - 13:26 | 1590920 Robslob
Robslob's picture

at least it is on sale today

Tue, 08/23/2011 - 13:26 | 1590921 Terminus C
Terminus C's picture

I am at a total loss as to why an 'investor' would buy bonds at this rate. You get about this much interest from a savings account.

I get why banks and government buy them...

Tue, 08/23/2011 - 13:29 | 1590930 Growyourownfood
Growyourownfood's picture

Apparently Italy is coming back to market with new bond issues starting the 26th. Does this mean the 25th will be guaranteed good news day for markets? Don't think they would plan an auction after a no-QE3 day...

Tue, 08/23/2011 - 13:32 | 1590945 Terminus C
Terminus C's picture

That is an interesting tell.

Certainly supports a QE3 announcement... So does this stock rally.

Tue, 08/23/2011 - 13:44 | 1591016 I Told YOU So
I Told YOU So's picture

AGG just posted a reversal (down) on the P&F chart., bonds possibly topping here 

time to buy TBT?

iShares Barclays Aggregate Bond Fund (AGG)

Tue, 08/23/2011 - 15:25 | 1591693 LawsofPhysics
LawsofPhysics's picture

I agree, either interest rates go up (no more "official" QE) or gold goes up (more "official" QE).  Rock and hard place for sure.

Tue, 08/23/2011 - 15:30 | 1591722 orangedrinkandchips
orangedrinkandchips's picture

you are paying this fucking govt to hold your money....fucking stupid...but the people buying this shit isnt their money..."im sorry i lose your ass"..doesnt cut it...who the fuck buys this shit? risk/return is a more basic theory than supply/demand.....i dont get it...

Tue, 08/23/2011 - 15:34 | 1591740 orangedrinkandchips
orangedrinkandchips's picture


Tue, 08/23/2011 - 15:51 | 1591749 I Told YOU So
I Told YOU So's picture

@orange, with respect

you dont get it because you probably do not "trade" the bonds, or in my case the options, you can buy/sell the verticals and define your 

risk/reward in advance of making the trade. nothing less nothing more.

I just wanted to point out that if the bond market "cracks" good money can be made this way, and the risk is defined by the spread width vrs. 

the cost of the spread, whether you buy it or sell it. 

Mon, 12/03/2012 - 18:06 | 3030942 nahshal
nahshal's picture

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