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30 Year Auction Closes With Small Tail At Lowest Yield Since May 2013
If yesterday's 10 Year auction was very weak, despite the market reaction post the Fed minutes ramping the paper to highs not seen since last May, moments ago the Treasury concluded this week's auctions by selling another $13 billion in the August 30-Year reopening, in another relatively weak issue, which priced at 3.74%, a small 0.2 bps tail to the 3.72% When Issued. In any event, the high yield of just over 3% was the lowest since the May 2013 Taper Tantrum freak out. As a reference, the lowest the 30 Year has sold at auction was 2.58% in July 2012 at the peak of the European debt crisis and just before Draghi uttered the magic words "whatever it takes." The internals were also somewhat weak, with the Bid To Cover dropping from 2.67 to 2.404, just below the 2.44 TTM. And yet, unlike yesterday's 10 Year when the Direct takedown crashed to multi-year lows, today's Direct allotment was a decent 21.5%, well above the recent average, and in line with some of the higher Direct bids in recent years.
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The head of a major mining company says gold output will soon peak, and then go into decline as soon as 2015.
Can't Frack Gold
Nice, low 30yr yield... give the housing market one last good push up before the collapse.....
Some big typos in this one, Tyler. 3.74% -- OMG!!! LOL
The markets just received the news.
News Releases @import url(module.css); font.metadetailtitle { font-size: 13pt; font-style: normal; font-family: Arial; font-weight: bold; color: black }Ebola Update, Oct. 9, 11:30 a.m. CDT
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Condition Report on Michael West Monnig
Texas Health Presbyterian Hospital Dallas releases the following condition report on Michael West Monnig:
Mr. Monnig’s condition is Good with no fever, no vomiting, no diarrhea reported.
His current condition is NOT consistent with an early-stage ebola diagnosis.
Texas Health Dallas’ standard laboratory testing indicates all findings are within normal ranges. Further lab testing specimens have been received in Austin and results are expected later today
Treasury needs to be firing up the "100 year" bond press
Meanwhile in North Korea
http://4.bp.blogspot.com/-tpQZ_vHh6Ag/UWLS4pYZSkI/AAAAAAAACZU/gEAY3HQ42kU/s1600/WHY+DOES+KIM+SEE3.jpg
Do I refinance? Or wait another week?