Black Friday Arrives: Biggest Weekly Move In 30 Year Bond Since Black Monday

Tyler Durden's picture

30Y rates move more than three standard deviations this week - the greatest move since Black Monday (1987) - as it drops 55bps - hhmm - stability.

or 7 standard deviations of a percentage move basis given how low rates are:

Chart: Bloomberg

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Careless Whisper's picture

The Careless Whisper Morning Report



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r101958's picture

Exactly.....and this morning on the news (here in Florida) they pop up a picture of both Romney and Perry but not a mention of Paul. What a crock of Schmidt!

Temporalist's picture

On Blmbrg, CNBS and FuxBiz they talked about those two nitwits because they were squabbling with one another.  Meanwhile they just reinforce one another's flaws about being unprincipled and flipflopping panderers who only care about pleasing lobbyists and staying in power.

VisualCSharp's picture

Thanks to the Internet, the connection between the MSM and the political scene is more obvious than ever. It nearly makes me wretch.

rufusbird's picture

Everything is just one big scramble to keep the failure from happening under the current watch.

Comay Mierda's picture

its not the official FN poll

nonclaim's picture

Union workers sunk GM and now they want to sink Ford too. Isn't that a long time plan being implemented to break the American industry, and succeeding?

I don't mean ill to the workers, but to the Union. Wake up America!

ps. Don't give me crap about evil capitalists, fat cat CEOs and the like. The workers can always strike against bad management and they didn't.

RSloane's picture

Ford is building a new plant that will create 5,000 new jobs - in India.

I don't blame them.

Racer's picture

All hail the Chair SATAN for creating such a wonderful unstable system

jekyll island's picture

Damn, should've waited another week before I started shorting treasuries.  

Johnny Lawrence's picture

You shouldn't be shorting them at all.  It's amazing to me that people are still bearish on bonds.  Haven't you studied history at all?  Japan is the ultimate blueprint for what's happening here. 

And for people who shit on the research of big brokerage firms (which I also shit on), every one of them was calling for highest interest rates and telling their clients to reduce their bond positions.  So the bond bears on ZH were on the same side of the trade as the Merrills, Goldmans, UBS, etc.  It's mind-boggling to me.

Smiddywesson's picture

It was a joke.  He was quoting the movie "Airplane."

Johnny Lawrence's picture

Ah, I apologize for my rant then.

And while we're at it.

Good luck, we're all counting on you.

LetThemEatRand's picture

By the way, is there anyone on board who knows how to run a Federal Reserve?

Larry Darrell's picture

If given the post of FED Chairman tomorrow, I would happily shut the whole thing down.

andybev01's picture

...but who didn't have fish for dinner?

Banjo's picture

Some differences between Japan and the US.


1. Japan was still exporting goods and had a trade surplus.

2. Japanese people own the majority of the debt. In the US I believe the US Fed is the largest single holder of Treasuries with, US citizens owning about 65-70% of bonds issued and foreign governments owning about 30-35% of US bonds.

The problem with the above is that if and when those overseas people decide to spend their money and it comes home it will cause inflation.


I would not be short or long on any paper asset from a trading perspective my view as a small player is the market can remain irrational longer than you can remain solvent.


Even Warren Buffet talks how he nearly got pulled into the tech bubble of the late 90's Now thats irrational exeuberence :)


Smiddywesson's picture

Damn, should've waited another week before I started shorting treasuries.  

"Roger, Roger"

Roger: "What?"

LetThemEatRand's picture

Ben B to Tim G:

"Timmy, do you like movies about Gladiators?"

l.kimbot's picture

'ever seen a grown short naked?'

Pladizow's picture

Ive been watching TMV for 2.5 years - wanting to get in.

Luckily I have not.

Everytime I think "here's a good entry point", Bernake provides a better one.

An there may not be a good time to get in until 2013?


janus's picture


you don't know me and you may not even like me, but those tit you used to sport were some of my all-time favs!  what gives?

Pladizow's picture

I originally chose an avatar that would "stand out" as I searched for my own comments when looking through the thread.

Then suddenly there were a couple of other people who chose similar avatars.

It was because of these copy cats that I changed my avatar.

Now I know many could argue that you cant have too many tits - but I was no longer unique.

Bicycle Repairman's picture

I picked the wrong week to stop sniffing glue.

jcmjr's picture

Go long my brother, for the short term!!

ethancasta's picture

We're in the midst of The Great Recovery. Don't destabilize the effects of the hopium with facts.

boom goes the dynamite's picture

Thanks Tyler for answering this question.  I knew it was coming.

hedgeless_horseman's picture

And it didn't even take him the full 15 minutes.  Genius at work.

Smiddywesson's picture

That douch bag Jack Welch is on CNBS this morning definitely NOT talking about how he made the oldest and most successful company in the history of the USA into a hollowed out financing company.  God rot his hypocritical withered soul.  He was considered the ideal manager, but today he looks like a damn fool and a phony gambler.

hedgeless_horseman's picture

...most successful company in the history of the USA...

By what metric?

buzzsaw99's picture

over 100 years old and they have more debt and more shares outstanding than ever. Success like that we can do without.

Smiddywesson's picture

Good point, I was foaming at the mouth.  Well, it's the oldest in the S&P500 I think.

Moneyswirth's picture

Successful my ass.  They don't make iPads...

Caviar Emptor's picture

Agree, Smiddy. He is a total shill for the concept that prevailed since the 1980s: outsource all productive industry where possible along with jobs, financialize to the max and become a 'service' provider. Unfortunately that was selling the farm, a mistake that the US might never recover from now that resources, technology and knowhow are gone and momentum is picking up elsewhere. GE wasn't the only company but Jack was the loudest cheerleader adn the most pompus ass around.


twotraps's picture

awesome, saved from saying the same shit, unreal, all the worship is too much.  This is a guy that made his money, then ASKED for certain things in his Leaving Package, like an allowance for everything from jet use to dry cleaning.  What an ass.

twotraps's picture

awesome, saved from saying the same shit, unreal, all the worship is too much.  This is a guy that made his money, then ASKED for certain things in his Leaving Package, like an allowance for everything from jet use to dry cleaning.  What an ass.

Moneyswirth's picture

Not to worry.  The Obama administration has a great plan to put us all to work shoveling shit, filling potholes, buliding schools in Detroit and Newark, all under the supervision of our federally-funded union overlords.

Because we all know that those jobs create lasting value and will turn this economy around.  Pay no attention to record poverty, a housing market in freefall and no jobs.

Believe the hype...

Going Loco's picture

Scrap copper prices today in the UK:

Yesterday evening - about £4 kilo

This morning, two quotes, $3.50 and £3.70

I got delayed, couldn't get to the yard this morning.

Price 5 minutes ago: £1.50

I kid you not. Physical copper in the Uk has fallen 55% in 24 hours.

Of course there will be a rebound, but let me tell you I think this IS the big crash. Denninger may be right after all (Tyler always is)

Good luck everyone. 

spiral_eyes's picture

I hope Blythe was hedged on the copper. From what I can see the silver shorts are still way underwater even at $33. 


Seasmoke's picture

how are those underfunded pensions going to get paid for all the public leeches......keep your heads in the sand , your pot of gold will still be waiting for you at the end of the rainbow with the flying unicorns