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March T-Bills "Panic-Selling" As Debt-Ceiling Fears Reignite
With all eyes focused on China (shadow bank liquidity fears), Emerging Market currencies, and US equities; something very concerning has been going on in short-dated Treasury Bills. The ultra-short-term remain bid (near zero yield) as the saftey crush demand bids for them but move out one month - across the dreaded late-February debt-ceiling debacle maginot line - and suddenly yields are exploding! The March 16th yields have screamed from 1bps to 12.75bps in the last 2 days - now above the October debt ceiling levels..
Bills around the debt-ceiling are exploding...
While near-term bill demand is huge as safety of cash is sought...
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T Bills = T Paper
http://youtu.be/y97rBdSYbkg
T Paper
Good for wiping your ass on.
you can barter with TP as well...
The poorest Billionaire...
got gold?
Yep, and trying to get more the old fashioned way. Had to break the ice on the creek yesterday. Too damn cold.
pods
Wait for the "Panic Gold and Silver Buying" headline. Difficult to believe that anyone would want to own a stock, bond, money market security or any significant deposit at a bank.
got gold?
I barely have any gold (lots of silver). I've got something better, Bitcoin and I am happy for every panic and crisis that comes along because Bitcoin is the new fear index.
I have BTC too but...
with a dollar crisis comes an energy crises. Just how impacted will P2P be in such an event? dunno. but i have my gold and silver in muh boat just in case.
Does anybody with any sense actually believe that they aren't going to huff and puff, pretend to debate, and then promptly raise the debt ceiling? If you do I have some derivatives I'd like to sell you.
Have you run out of bridges? ;-)
Nope no bridges, I keep burning those suckers. ;)
Unless - they unleash a major false flag war,
or man made natural disaster,
or swine pandemic,
or for 1:1000 odds - faked alien invasion...either of those choices to get some of us out of debt, while reducing the population - and setting in the NW Order agenda...
.
I dont care if this financial system goes down. If the Queen is still sitting on her throne, the Vatican is still functioning and the Rothschilds still has its massive emprie - then fuckin nothing has changed.
I prefer an alien invasion, they probably would honor my gold.
Dude, they would be coming for your gold. Don't you watch History Channel? THe Ancient Aliens came to places like Peru and the American Southwest for Gold. It is their "power"source.
Wait, does that make the Rothchilds....aliens?
Yes.
Scared yourself a little, didn't you?
ZH made me proud today.
Well the winter Olympics are coming up. I've never seen so much talk about security and terrorist threats before they even start.
"Dallas Police are very concerned something could happen to Oswald".
"Take me to your leader."
Well, I can take you to a group of lying, cheating, stealing and killing cocksuckers that say they are my leader.
Shit's heatin' up.
Just in time for Yellen. Scripted.
No, it isn't. This is a TRADE, not a signal of some impending doom. They're just discounting the possibility of a DELAYED payment (time value of money) on that t-bill due near the debt ceiling breech level, not the risk of a default.
This is a trade ONLY. And, as such, an opportunity for some Wall St. traders to make a little bread of a government-manufactured "crisis." That is all.
When stuff really starts to unravel, you'll never see it coming.
Agree with all that.
Just a general, cynical comment on the increased volatility lately. Wouldn't be surprised if Yellen redacts taper policies now that there's a few gifted excuses.
They're absolutely trying as hard as they can to get her to act like the dove she is, at heart. If they can continue this tapering for more than 6 months under the current schedule I'll be shocked.
imo untapper wont really matter. once defaults gain momentum its on.
A woman cleaning up another man's mess?
This short-dated T-bill selling happened last time the debt ceiling was debated. It is kind of a regular trade at this point.
It is kind of a regular rip-off at this point.
Yea, there is nothign to see here. The Red/Blue faggots won't do the right thing - they will raise the ceiling with almost no debate. Man, reember in like 2009 / 2010 when the markets actually responded to this news.....
Ehh..no worries...SO TOO WILL THIS CAN BE KICKED...the endless alley.
the can always hits a wall. its not a coincidence it always happens when peasants are all in on stocks (ie, everyone is bullish). thats the goal. get em in, destroy stocks, send money "pouring" UP THE LADDER.
Not that many years ago it was 5.25%. Good times.
If China's yield curve can invert why not the USA's?
In any case "we fight a war on terror" and when the speculations go bust "we bail out leverage."
That sounds an awful lot like trying to create a bubble again...leading to yet another deflationary dead end.
It will be interesting to see if Taper really does hold here...and if so "by how much."
It wasn't that long ago when all this was done in secret and we would never have known what the Fed was doing.
Now we have "forward guidance."
This strikes me as a policy directive not something the Banks would have lobbied for.
What are the Banks lobbying for anyways?
For a decade now most every working fool in the US and the world has been terrorized by Washington, Wall Street and the Fed. So 350 million ( plus others ) times 365 times ten years times losing every material thing you ever worked for times the liberty and hopes of the young for decades......and two goat buggers in a Toyota on a Somolian dirt road are "the threat"?
I hope Boehner took his Cialis this time.
Jim Will posted this yesterday, Jan. 26:
http://news.goldseek.com/GoldenJackass/1390788000.php
When you have the IMF's Lagarde bemoaning the Fed Taper, which has been a total $10 billion so far, panic mode is not too far away.
Dow up +18 on the prospect of WWIII and the apocalypse.
As long as the price of promises to deliver gold stays down, there is no problem. In the mind of a partially educated, fully indoctrinated, central banker, this is checkers, not chess. besides. A lot very stupid people made huge bets on recovery and solvency that are not happening. To them, it is better to lose the war than this battle. Also...so embarrassing.
It's probably just the most conservative treasury money market funds getting rid of March T-bill blocks in their holdings early and dealers yawning the bids out a bit to lift their positions. It's exactly what happened back in early October when the short-dated bills curve sold off hard and the rest of the bills curve bled outduring govt negotiations. While Vanguard, JPIM, DB, and Fidelity etc. money funds were selling, folks like PIMCO were the better buyers scooping up bps in the zero rate environment. Comparing the current yield of the B 3/16 to what it was in October not that instructive as now it's only 6-week paper as opposed to being 5-month back then but definitely going forward the whole bills curve will be an apt barometer for debt-ceiling sentiments. Don't forget to keep your eyes on the PX screen boys
Good opportunity here to bet that Boehner will cave in yet again... Let me guess... 'Can' kicked down the road until after the 2014 elections...
T Bill will never be as talented as T Pain
They can't stop spending and wasting.
http://delaney.house.gov/information-on-congressman-delaneys-infrastruct...