Bill Gross Vomits All Over "Putrid" 30 Year Bond Auction

Tyler Durden's picture


Just like in yesterday's weakish 10 Year auction, the thunder from Tuesday's strong 3 Year has all but gone. In today's issuance of $13 billion in 30 year reopening, the results were anything but strong, with the bond pricing at 2.985%, a a 3 bps tail compared to the 2.955% When Issued. Furthermore, the BTC was a big drop compared to last auction's record 2.98, coming at 2.60, compared to 2.68 in the last 12 auctions. And with Indirects taking down just 31.9%, and Directs sliding to a one year low of 7.2%, it means that it was the Fed, via the Primary Dealer repo mechanism that once again took down a whopping 60.9% of the entire auction. Needless to say, the bond market response was not pleasant, but was to be expected as the Fed continues to artificially massage the curve in any and every way possible. Most hilarious, however, was the tweet sent out by Bill Gross in the minutes after the auction which we present below: it speaks for itself.

And historical results:

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Thu, 01/12/2012 - 14:19 | 2058984 LawsofPhysics
LawsofPhysics's picture

Awesome, judgement day?

Thu, 01/12/2012 - 14:20 | 2058991 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gross is more bitter than Kashya Hilderbrand.

Thu, 01/12/2012 - 14:22 | 2059002 redpill
redpill's picture

I'll take your word for it, I haven't tasted her.

Thu, 01/12/2012 - 14:25 | 2059010 blu
blu's picture

ba-dum -- ching!

Thu, 01/12/2012 - 14:26 | 2059013 redpill
redpill's picture

I'll be here all week, folks.  Tip your waitresses!

Thu, 01/12/2012 - 14:34 | 2059051 Pladizow
Pladizow's picture


But you have tasted Mr. Gross?

Thu, 01/12/2012 - 14:47 | 2059109 AbruptlyKawaii
AbruptlyKawaii's picture

pis aller

Thu, 01/12/2012 - 14:56 | 2059126 BaBaBouy
BaBaBouy's picture

P O N - Z E E E E ...

Fiats Dollar Printing WITH GoldManip Goes on, as Normal ...

Thu, 01/12/2012 - 16:00 | 2059470 stocktivity
stocktivity's picture

that's what he or she implies

Thu, 01/12/2012 - 14:37 | 2059067 LongSoupLine
LongSoupLine's picture




Thu, 01/12/2012 - 14:47 | 2059106 GOSPLAN HERO
GOSPLAN HERO's picture

Does tasting cause bad breath?

Thu, 01/12/2012 - 17:51 | 2059903 ihedgemyhedges
ihedgemyhedges's picture

Depends on if you ask your wife or your girlfriend........................I'm sure I don't have to tell you the answer of each one.................

Thu, 01/12/2012 - 19:09 | 2060116 Yancey Ward
Yancey Ward's picture

But you did Gross?

Thu, 01/12/2012 - 14:24 | 2059009 ACP
ACP's picture

No way, the Fed will just buy up everything in sight and then print a trillion GLD shares to naked short them!

Problem solved!

Thu, 01/12/2012 - 14:26 | 2059015 blu
blu's picture

Shush. Don't give them any more crazy ideas.

Thu, 01/12/2012 - 14:41 | 2059092 JPM Hater001
JPM Hater001's picture

You do a diservice to crazy...Feds are way past crazy.  I wish the fed were only crazy.

Thu, 01/12/2012 - 14:28 | 2059024 Silver Bug
Silver Bug's picture

At least someone in the establishment knows how to speak the truth. Bill Gross has openly said he supports Ron Paul as well.

Thu, 01/12/2012 - 15:06 | 2059198 MachoMan
MachoMan's picture

I'd throw temper tantrums too if I got cut out of the club.  waa waa waaa

He's also fairly new to the whole religion thing...  making a hellaciously bad call on treasuries will do that to you...  hoping to save some face in the midst of collapse and endear himself to the prols.

Thu, 01/12/2012 - 14:32 | 2059042 Eireann go Brach
Eireann go Brach's picture

If I seen Bill doing yoga in his leotard in Newport Beach in the mornings, I would puke all over him!

Thu, 01/12/2012 - 14:19 | 2058988 apu123
apu123's picture

The FED will soon be the only buyer of stocks

Thu, 01/12/2012 - 14:25 | 2059011 SheepDog-One
SheepDog-One's picture

They aren't already?

Thu, 01/12/2012 - 14:33 | 2059045 GeneMarchbanks
GeneMarchbanks's picture

Check out the Baltic:

This is 2008 Redux trajectory-wise...

Thu, 01/12/2012 - 14:37 | 2059069 AC_Doctor
AC_Doctor's picture

Gene great find- change the settings to a 5 year chart and see our great recovery in action.  I see a DEPRESSION coming alongside the USS Economy.

Thu, 01/12/2012 - 14:41 | 2059096 GeneMarchbanks
GeneMarchbanks's picture

Standstill, my friend. US, China, Germany all think they can fall back on export led growth and ain't going to happen.


Thu, 01/12/2012 - 14:53 | 2059130 AbruptlyKawaii
AbruptlyKawaii's picture

obarry is doubling exports as we speak! make sure you vote!

Thu, 01/12/2012 - 16:21 | 2059312 earleflorida
earleflorida's picture

germany has to export

u.s.a.'s export platform is china, period

china is the surrogate of us exports

china needs minimum exporting coming into new 5 yr transition planned strategy

china will consume imports abroad building out infrastructure where internal labor/ materials is a non-factor regarding gnp

china wins - why?

contrary to all the china bashing,... they listen to the proletariat, which certainly can't be said for america today


Ref: "Business Cycles" {dated material  - mid 90's / but, oh so telling for today's macroeconomic policies}

Thu, 01/12/2012 - 16:30 | 2059606 Calmyourself
Calmyourself's picture

You know why they listen to the proletariat, cuz their proles know how to riot and riot they will keep delivering 8%+ growth or China is toast..

Thu, 01/12/2012 - 16:53 | 2059732 earleflorida
earleflorida's picture


i enjoy at times, playing, 'devil's advocate' - i'll leave others to sort out - my obective is strictly utilitarian --- being subjective towards critical legislation/monetary policy/ foreign affairs, etc., etc., regarding america's future is very close and dear to me,... which by the way i keep locked-up in a safe with my gold. 

the objective utilitarian am i

Ps. perhaps delivering 5% - 6% growth while the us feigns its numbers at 2% -2.5% is worrying to some --- it's still 2x +/+

Thu, 01/12/2012 - 14:37 | 2059073 Caviar Emptor
Caviar Emptor's picture

Yup. Yesterday's China and Japan news was a bell that rang unheaded by MSM. And then Germany's numbers weak as well. Final icing on cake was US retail numbers. Seems that the consumer buying spree included everybody except consumers. 

Thu, 01/12/2012 - 15:17 | 2059136 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Sweet plunge! Looks even better here:

I was following the Baltic closely a year ago hoping to see things going over the cliff. Maybe this is it.

Thu, 01/12/2012 - 20:58 | 2060255 Zero Govt
Zero Govt's picture

Holy Shit Batman

Thu, 01/12/2012 - 15:03 | 2059185 Dr. Engali
Dr. Engali's picture

Damn pirates.

Thu, 01/12/2012 - 15:51 | 2059422 Stuck on Zero
Stuck on Zero's picture

A really low Baltic Dry is a great thing.  You can bring in huge container loads of illegal immigrants much more cheaply.

Thu, 01/12/2012 - 15:57 | 2059424 bigkahuna
bigkahuna's picture

Baltic Dry Index from 1900 to 1200 in two months and looks to be headed lower.

Something has got to crap the bed.

Thu, 01/12/2012 - 16:55 | 2059744 ucsbcanuck
ucsbcanuck's picture

Over 36% fall in 2 months. Something is up...

Thu, 01/12/2012 - 18:22 | 2060002 n2dark
n2dark's picture

That's because everybody's buying local nowadays, and that includes t-bonds as well.



Thu, 01/12/2012 - 14:38 | 2059074 Sandy15
Sandy15's picture

They already are........ 100% correlation in this market since March 2009.....  Been saying it for years now!

Thu, 01/12/2012 - 14:57 | 2059147 Dr. Engali
Dr. Engali's picture

You forgot about the perma bull Robo....

Thu, 01/12/2012 - 16:31 | 2059616 Calmyourself
Calmyourself's picture

fooled you Robo shorted the baltic dry with the baltic wet yesterday....

Thu, 01/12/2012 - 14:20 | 2058989 Cdad
Cdad's picture

Cue President Zero to call for a lift in the debt ceiling to issue more putrid debt.

Rocket scientist everywhere today.  And unicorns.

Thu, 01/12/2012 - 14:27 | 2059018 SheepDog-One
SheepDog-One's picture

Markets way more resemble a landfill today, just heaping on more putrid compost and trash on top of more trash.


Thu, 01/12/2012 - 14:34 | 2059055 Cdad
Cdad's picture

Just one more day, Dog.  Just one more hit of more yarn spun on the BlowHorn [CNBC] by some half witted banker...just one more QE...just one more illegal currency trade...just one more European between half witted politicians...just one more lift in the debt ceiling.  

Just one more day, Dog.

Thu, 01/12/2012 - 14:39 | 2059081 SheepDog-One
SheepDog-One's picture

Just like in 'Idiocracy' when they piled the trash so high it caused a sudden Trashalanche over the whole city.

Thu, 01/12/2012 - 14:48 | 2059111 Cdad
Cdad's picture

Love that one, Dog...although the first time I watched it, it seemed more like a documentary to me than a movie.  Anywho...I got's my degree from I'm good to go.

This country needs a zombie apocalypse so badly it just hurts each day that I do not see the undead stumbling around on Wall Street.

Thu, 01/12/2012 - 15:57 | 2059331 centerline
centerline's picture

Is it bad that this so true?  That I am laughing?  Or because it is both true and I am laughing?  I can't tell anymore.

Thu, 01/12/2012 - 15:57 | 2059455 centerline
centerline's picture

Oops. Found your undead at walking around at Walmart.

Thu, 01/12/2012 - 15:10 | 2059212 dexter_morgan
dexter_morgan's picture

Many things we see are way to similar to Idiocracy.........unless that movie was made 500 years ago.........

I like money.........

Thu, 01/12/2012 - 15:14 | 2059238 slowimplosion
slowimplosion's picture

Ow - your balls

Thu, 01/12/2012 - 14:39 | 2059079 Caviar Emptor
Caviar Emptor's picture

just heaping on more putrid compost and trash on top of more trash.

Sheep: luv that one! 

Thu, 01/12/2012 - 14:20 | 2058992 jmcadg
jmcadg's picture

Sour grapes

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