This page has been archived and commenting is disabled.
Stock Surge Back To Pre-Shutdown Levels Despite T-Bill U-Turn
It would appear the stock market has decided it's a done deal. The S&P has soared 40 points from its lows yesterday retracing all the way to pre-shutdown levels and the all-important Dow has regained the Maginot 15,000 level. Never mind that short-dated T-Bills are selling off once again (10/17 now only -10bps from -30bps earlier; and the 11/29/13 bills is 6bps higher at 11bps).
but Bills are selling off once again....
Charts: Bloomberg
»
- 5526 reads
- Printer-friendly version
- Send to friend
- advertisements -
If you have not started drinking now, there's something wrong with you.
*hick*
Dow 30,000 here we come.and heroin $10 a bag.
Everything is free. Praise be to Bama he be da King.
This is the first monkey hammering of shorts in 4 years in which I am not affected. Feels good not to have Ben kicking me in the financial balls anymore.
You only win by not playing!
And stacking
Five days of heavy volume selling made up in one morning of low volume buying.
Short covering, no more, no less.
The stock market jump is driven by Yellen. A proud and boastful DOVE. Free money until the END, baby. Hell, the young will get the free lunch they voted to get from Obama. Someday they will realize FREE LUNCH does not exist.
Theeey’re Baaaack – The AmazAppleHerbaGoogaFabookaTesla speculators that is.
"But, but, but, …….. I was planning to start printing."
Janet
http://www.treasury.gov/initiatives/pages/debtlimit.aspx
Debt Limit
The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.
Failing to increase the debt limit would have catastrophic economic consequences. It would cause the government to default on its legal obligations – an unprecedented event in American history. That would precipitate another financial crisis and threaten the jobs and savings of everyday Americans – putting the United States right back in a deep economic hole, just as the country is recovering from the recent recession.
Congress has always acted when called upon to raise the debt limit. Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents. In the coming weeks, Congress must act to increase the debt limit. Congressional leaders in both parties have recognized that this is necessary. Recently, however, a number of myths about this issue have begun to surface.