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Treasury Bills Reopen... And Aren't Buying It One Bit
Having been closed during the ebullience of the US equity trading session today, we are assured by any and all prognosticators that Treasury-Bills would open to a glorious fanfare of buying as the world their pet rabbit scooped up the 30bps yield for a few days work - since a deal was about to be inked... Not so fast... Most worrisome is that it is not the November/December bills (i.e. the bills in peril from a 6-week extension) but the imminent danger bills that are underperforming. The 10/24/13 (i.e. just past the official "end of the world" date) are 6.5bps wider in early trading at 33bps and as US equity futures roll over very gently, the supporting cast of JPY carry trades are also losing their momentum... time for another rumor of a deal stat!
T-Bills ain't buying it...
And the ever so supportive visible hand of the JPY-carry mob is drifting south...
Charts: Bloomberg
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FUCK these games BITCHEZ!
I am SOOOOO fucking tired of this BS. I just wish it would all blow the fuck up and take the worthless bags of fuck with it.
You're gonna burn out, son. Lay back off the throttle a bit and get some perspective. It's always been a game. It still is a game. It will be a game long after you're gone, even if you live to a ripe old age.
I agree. We cannot change the system, either the present day one or whatever they come up with to replace this one. We can only change ourselves.
And in doing so we will change EVERYTHING.
'we shall unleash the nihilists'-Albert Pike
Treasuries are not buying it? Duh. The market is so ridiculously contrived at this point, even an inanimate thing like a treasury bill could see through it.
I don't believe for one minute that anyone is fooled by this equity market...least of all Average Joe who said piss off to the criminal syndicate known as Wall Street five years ago. So...whose gonna hold the equity bag now?
"I don't believe for one minute that anyone is fooled by this equity market...."
I tend to agree. Even the talking head don't really believe their own propaganda.
<But as long as the music plays ya gotta dance. So dance like there's nobody watching.>
I don't hear any music, Cog.
Sounds like Tool(s) to me.
Lots of folks the world over and America are dancing to the Bernanke-Obama beat.
http://www.youtube.com/watch?v=L8Ilpm5n4iU
Sorry you are wrong about who are the buyers of this market. This past two years have been all retail buying the distribution of profits from the market makers.Retail is holding the bag today.
No way.
Well, maybe.
I dumped all of mine but silver juniors.
If the market sells off, I am in cash. If the cash is worth anything I am buying oil & NG
Most people I know cashed out of the stock market long ago. Mostly institutions buying now is my guess...paying Big commisssions and salaries to "manage" pension funds, municipality bonds, etc.
You said it! I, too, am just fucking sick of the sick; if I had a big red button that would take out the Federal "government" and the criminals that own it, I would push that mother fucker with a jack hammer.
Someone somewhere has a red button and a jack hammer...
So I have to wait 6 weeks to get my $2.50 per $100,000 bill.....who cares
I agree. You don't care what you make on the bill.
But you do care what owning that bill does by bringing some (regulatory) required stability (for now) to a portfolio that is leveraged to the moon and beyond.
<Safety is in the eye of the beholder. And for now Treasuries are considered "safe". That will change.>
When you put it that way it sounds almost foolish to buy T-Bills - 100K risk for a cup of coffee reward. Lucky its the US Govt we're talking about lending to, as they've proven time and time again to be trustworthy, thrifty, and good for their word. Excellent Risk-Reward proposition there.
Glitches everywhere. Check this out.
http://longisland.news12.com/news/nice-bus-riders-glitch-is-wiping-out-metrocard-balances-1.6250754
Hmmmn, these are starting to add up. Is there a hacker attack underway?
"It is the Republicans and the TEA PArty who have forced me to declare EO#123456789 and take Total Power. I am not resposible for this."
'When you put it that way it sounds almost foolish to buy T-Bills - 100K risk for a cup of coffee reward.'
I'm sold.
Screw T-bills: I'm gonna keep my funds in something safe -- like brightly-colored, crudely-printed Yellenschrift. /sarc
Meh. Bring the yields to historic high, then we can talk.
I find the AUD/JPY correlation with the S&P much more interesting than the easily-understandable spike in short-dated T-bill yields.
The bond guys are always smarter than the stawk guys. Always! Gawd help you if you are long.
Who's going in for sloppy thirds?
Buy the rumor, sell the news in stocks. Sell the rumor, buy the news in bonds.
<Welcome to the newest new normal.>
The fix is in. Rhinos will cave. Boehner will start crying then point to Reid and say, "He made me do it!". No guts, no glory, no Ram, here.
Fate the Magnificent
"Push the Button, Max"
If he caves, we will end up with a 3-party system. Democrat, RINO and Tea Party (which badly needs a new name).
Iced Tea with lemon?
<Just a suggestion.> :)
Sons of Liberty
or
SOL
No Money No Party
2014 and beyond
There will be haircuts!
about why bills are selling according to market watch >
In reality, however, it was business as usual, a step that has much more to do with the world of money-market funds than the realm of politics and public policy. It was also a predictable, necessary move from a company that controls more than 15% of the $2.67 trillion currently held in money funds.
To see why investors should ignore the political spin and not read anything but “business decision” into this, you need to know a bit about how money funds work, especially in light of the financial crisis of 2008, where the collapse of the Reserve Primary Fund – the world’s oldest money fund – was directly responsible for much of the misery that infected every market around the globe.
Everyman; never forget it's a Loosh Farm and all the yinging and yanging is making some few people rich.
Yawn. Nothing going to happen. Wall Street has let its bought-and-sold DC ass-ponies have their couple of weeks fun and is now pulling the reins. The calls have been made, the fix is in. It's all just been color and movement to keep the masses distracted and confused.
Real money and power will now re-assert control. Same as it ever was.
Suppose this means the taper is off until at least March due to "fiscal uncertainty." BUY!!
Just buy while it lasts. Period.
Just sell everything once it starts. Period.
It can't get any simpler.
Only an idiot who thinks too much would not make any money.