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"They" said it couldn't happen.. but the Max Pain trade continues...10Y 2.4982%
But "they" can't all be wrong, right?
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Oh fuck..
Pithy....but effective.
Somebody tell me..
At what time does an insanely low UST rate change from Fed/.gov manipulation for their own benefit to a condition where no one is willing to pay much for depreciating garbage that cannot even be composted.
NIRP FTW.
Dog food for all pensioners!
pods
Quick everyone run towards the burning house!!!!!!
HURRY!!!!! (running around in circles screaming)
This is nothing compared to the hysteria when it dipped below 2%.
know any good catfood recipes?
supposedly you can eat kitty litter too....and tree bark.
and bugs. Remember that TED talk where the academic recommends we eat bugs in order to be more sustainable?
Pretty sure he went to have some filet mignon and then hopped into his supercharged Escalade after his speech though.
Think about this for a moment. Last year at this time we watched the 10yr rise through 2.5% and we all thought the world was going to end. Exactly 1 year later we watch the 10yr fall below 2.5% and we all think the world is going to end. The only thing that has been consistent in all this is the stock market going higher.
It closed below 2.5% last july, so first it dropped, then it rose, now it dropped again, and it aint even july yet, moreless the EOW.
Yeah, what happened to all the FUD about the Fed going bankrupt if it had to pay out 3% on 10yr?
they were doing a pretty good job of delaying the end of the world, until nuland started handing out cookies to 'neo nazis' in ukraine
...and the speed of light.
Dentist wanted to know why my teeth were in such bad shape, I told him the old man used to come home with a lot of wild game and we bit down some buckshot. He says with a couple more crowns, you could probably just live off of buckshot.
+1 for bringing back memories of my early days spitting buckshot back onto the plate.
Are you guys eating people or something? I could see having to spit back bird shot, but buck shot is an entirely different ballgame (and should be taken care of during the butchering process, aside from being illegal to use on deer in most jurisdictions).
Gritty Kitty!!
How about a good stray cat recipe? They go good with a little szechuan.
At least we have some good news for this guy.
http://theeconomiccollapseblog.com/archives/tag/the-yield-on-10-year-u-s-treasuries
Yes! 18 today! I'm more excited than a crack whore with a full set of teeth and a twenty dollar bill.
My favorite is Kung Pao Kitty.
pods
Oh wow. Who cares?
Very Japanesque.
bedankt België
We are going lower bitchez!
Where is "Boston"? Boston please come out and take a bow.
Thank you!
Today, I will treat myself to a Starbucks short coffee for $1.72 tax included. I hate wasting money at that place, but this calls for a celebration.
Btw, my portfolio was 65% long Treasuries before yesterday. I lightened up to about 55% by 5pm yesterday, thinking there would be at least some sort of bounce in yields so that I could buy back in. Oops!
Nice call.
Getting yields down near record lows again is the only way they will be able to jump start a falling housing market. My friends mortgage company in Seattle recently packed it in after decades in business. They couldnt qualify anyone and lending was drying up due to the unaffordabilty issues documented so well here at ZH.
One of my college friends was a high flying real estate agent. When he stopped by last weekend, he had been drinking and was driving an 8 year old minivan. He's doing lawn mower repair out of his 3 car garage while trying to sell his McMansion that's been on the market for 11 months. He can't sell his Sea Ray either nor afford to put gas in it. This is the same guy who gave me a raft of shit for being a member of ZH.
I don't believe yields dropping this time will spark real estate. Real estate is fucked.
Come on fonz, ya gotta believe!
(I think you're right, btw)
I think we are watching the big break between the 1% and the next 9% and the rest of the 90% right now. The 1% will roll right along. There will be some jockeying around with the next 9% as machines take over etc. The rest of the 90% are toast. So the majority of housing is done. I don't care how low rates go. It's like trying to start a fire in the rain with two of Barney Frank's dildo's
Maybe you should drop by and tell your RE buddy about a recent ZH article claiming the mower repair sector is DOOMED,
Why kick somebody when they're down? I made the same sort of mistakes but 20 years earlier. He wanted to borrow my wheel puller and a torque wrench so he isn't going to get very far doing lawn mower repair either. At least his wife is a RN. (I ended up fixing the mower for him myself just to make sure I got my tools back.)
A little too obvious attempt to jumpstart housing?
Making a statement to Russia I think.
Maybe the Wall Street jagoffs with actual brains realized that QE hasn't been reduced at all. All a big lie to manipulate the markets again.
Backs up to fire, ass feels a tinge of momentary warmth, front still frozen. Damn I thought they said there was more BTUs in the AAA rated stuff.
Wait till someone finally figures out and "Tweets" that the private buyer in "Belgium" is really the US Government.......
could be China buying up Russia's offloading and hiding it like they did through Lonaon until ZH caught wind of it and exposed that front. China has vested interest in maintaining the UST for a while longer. until they don't.... if it is indeed the Fed, then the wheels are off and sparks are flying! but I think Denniger is probably correct on this one.
Denninger? As a public persona, he has a long history of being mathematically correct and "book smart" logical, but his timing of the market and his political skills have always sucked big time and cost many of his followers because he doesn't understand people, political manipulation and market sentiment. Once he's on a tear, regardless of whether he's right or wrong, he won't listen to others and he's like an elephant in a china shop. Barry Ritholtz is about the same, yet a little more "professorially" condescending......
Someone yesterday suggested the private buyer was Israel. I don't know anything about the market to judge whether that's true or not, but it was said so I'll repeat it here in case anyone can tell me at least if that's completely absurd.
Let the scramble for "high quality" paper begin...
/s
And then, when the scramblers figure out that bonds bought at these bubble prices aren't so safe after all, where will they find safety then? In PMs! I will be prepared.
WTF? Someone forgot to take the chains off the fire escape door!
...cue Great White... (please, no pyro indoors, pleeeeze)
Don't worry, sheeple. The FED has your backs.
Market recovery this afternoon.
BULLISH!
I am going to put all my money in a savings account....you get paid a lot of interest...0000000.000001% a year....that is good right...
The game now is not about return on capital but PRESERVATION OF CAPITAL........#wearebrokebitchez
Don't forget the FDIC limit......you're going to need it, bro......
>> .0000000.000001% a year....that is good right...
Well that does beat the fuck out of the returns on gold for the last few years.
It's good for you, not so good for the banks.
Russy gettin clocked again shocker never coulda seen that coming given what's happened in the last couple of weeks.
Pulling the batteries from smoke detectors is one thing; reprogramming them to play "Don't Worry, Be Happy!" instead of an alarm is just going too far...
There were plenty calling for 2.4 (or less) as the bottom end of a widening trading range for the 10y. Trading price action and taking out the shorts below 2.6 who erroneously thought that was going to hold as the bottom of the range.