30 Year Drops To 2.99%, Lowest Since January 2009

Tyler Durden's picture

Hey Ben, when we said we can't wait for an inverted 2s30s, we were only kidding. Please don't destroy the country to satsify our wish. In other news, 3 month Libor will soon be trading wide of the 30 year.

Chart: BBG

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BrocilyBeef's picture

right... 299 basis points for THIRTY FUCKING YEARS!

mayhem_korner's picture


Should make for some attractive mortgage rates (to look at) for the millions that can't refinance their upside-down houses.

Water water everywhere but not a drop to drink.

WestVillageIdiot's picture

And there wouldn't be any long-term danger in handing out 30-year loans at less than 4%.  Would there?  No, I'm sure they have thought of all of the potential problems this could cause.  After all, they are academics and oh, so fucking smart.

GenX Investor's picture

Operation Titty Twister, and for our follow up act of pain on you... a purple nerple.

CrankItTo11's picture

Did ZeroHedge miss this? http://www.ft.com/intl/cms/s/0/43b10bde-e478-11e0-92a3-00144feabdc0.html#axzz1YcofmbS3

Moody’s downgraded the credit ratings of Bank of AmericaCitigroup and Wells Fargo, three of the biggest US banks, over concerns that the US government would be less likely to rescue the lenders if they faced failure.

CrankItTo11's picture

Sorry, I'm apparently blind, dumb, and ignorant. I'll double-check before posting something like that again. I voted myself down for that one.

LawsofPhysics's picture

Well it is about bloody time.  I have been waiting for the collapse long enough.

XenoFrog's picture

I voted you up because you were the first ZH poster in history to admit he was wrong about anything, ever.

Thomas's picture

Hey, wait a minute. I was wrong about three years ago. Admittedly, it was a technicality, but I fessed up.

Hulk's picture

Never, ever, been wrong in my life. But statistically speaking, its going to happen any minute now...

CH1's picture

May that be your worst mistake. :)

tekhneek's picture

Ha. No worries. Tylers were bustin' the site up like it was going out of style w/ new content... not a very slow news day to say the least. I had been waiting about a week for earlier today so... was somewhat glued...


Tyler, <3

Ned Zeppelin's picture

You kidding? check the pre-FOMC announcement posts here on ZH. No miss.

Jendrzejczyk's picture

The Tylers don't miss much.


SwingForce's picture

I only saw the post about BAC, and I was wondering why C & WFC were +2% most of the day. Look at the range on C today 2 points, er dollars (I'm old as Art), SwingForce in action.... Just gimme a vine & a banana.

Yamaha's picture


Captain Obviousness's picture

Not sure if you are the first one to apply the "water water everywhere" quote to ZIRP, but I like this way more than the pushing on thread analogy.  Unfortunately family and friends will greet me with a blank stare if I try to make either analogy :(

DoChenRollingBearing's picture

@ Brocily

Green for being completely right.  Take 3% for 30 years?  No way.  I wonder WHO is buying these (other than the Fed).

I'll take gold at $1780 now, and who knows how much in thirty years.  But, I'll bet gold does better than 3% per year, LOTS better!

mayhem_korner's picture

Gold is gonna push 3% per week sometime before 30 years is up.

LookingWithAmazement's picture

Gold is going to go down, because no new bubblemoney flows in.

fuu's picture

That may be the stupidest thing I have ever read on ZH.

DaveyJones's picture

are you looking on with amazement?

fuu's picture

As a matter of fact yes I am.

mayhem_korner's picture

Not wise to threaten the pistol-wielding chimp.  :D

tekhneek's picture

Son, I've been "waiting" and "seeing" for over a decade now.

We don't need another troll. MillionDollarBonuses_ has got that shit down pat.

Hulk's picture

True dat, but MDB just be pretending...

Panafrican Funktron Robot's picture

QE, and the price of gold (even in US dollar terms), is not a US-only phenomenon.

tekhneek's picture

Just wait til the PAGE opens. We'll see where gold's going... and it ain't down.

It's going to look like a unicorn boner by the time price discovery actually works.

ManufacturedOpinion's picture

"It's going to look like a unicorn boner by the time price discovery actually works."

Of course, we'll probably all be dead by then.

LookingWithAmazement's picture

Lots of Comex traders will sell and PAGE'rs will buy. Mind you: gold can become TOO expensive for Asian folks.

tmosley's picture

Sorry, physical delivery only on PAGE.  All Comex traders have is paper.

LynRobison's picture

Asia has been open for 45 minutes now, and gee, go figure, gold is not going down. How can that be? Gold is just a barbarous relic!

tekhneek's picture

790% return on AGQ since December 2008... just sayin'...

I have put all my paper eggs in that basket when it recently went down to the 170-ish area. Gonna ride this bitch and laugh all the way to the bank come 2015-ish.


Yamaha's picture

I'm just glad that I picked up extra magazine clips for my Sig.....

BrocilyBeef's picture

that's what I forgot at the market!

CH1's picture

Oh my God, how did we all miss that:

Let them eat Ponzi!!

DrFever's picture

You should be selling your gold now.  If you truly feel that a liquidity crisis is imminent then you should not be buying gold here.

Personally, I think today's announcement seals the deal for the metals short-intermediate term. 

CH1's picture

As if there were an honest market in the metals? They are "worked," like pro wrestling matches.

jbc77's picture

I'm with you. Any extra monthly saving go into physical bullion. Gold or silver, take your pick.

SwingForce's picture

There's a " + " PLUS sign in front of that number........

beelint's picture

It looks like Traders and the Fed are and maybe the Chinese as well.  Only the Fed would create a bond bubble and then buy at the peak.  Madness.