"Horrible" 30 Year Bond Auction Prices With Unprecedented 11 bps Tail

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Thu, 08/11/2011 - 13:19 | 1551406 Cleanclog
Cleanclog's picture

Dealers could get screwed with that much take down.  Back to gold?

Thu, 08/11/2011 - 13:26 | 1551432 Spitzer
Spitzer's picture

 back to DOW it looks like. Its up 350.

The "anything but gold" trade is going full swing

Thu, 08/11/2011 - 13:30 | 1551442 TruthInSunshine
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Recent history says it breaks post 2:30 pm.

I am going with  'massive volatility returns in 60 minutes or less' Alex, for $2000.

Thu, 08/11/2011 - 13:57 | 1551508 Cleanclog
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So far some strong hands with the dealers who "took" the 30 year, even if by surprise!

Mon, 12/26/2011 - 05:06 | 2011454 jaffa
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Tue, 03/27/2012 - 03:28 | 2293613 jaffa
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Wed, 03/28/2012 - 08:53 | 2296877 jaffa
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Thu, 08/11/2011 - 13:35 | 1551456 SparkySC
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Wasn't it here on ZH that they said the next major downturn will begin w/ a failed auction?

Well here it is!


"Where's the KaBoom? There was supposed to be an Earth shattering KaBoom!"

Thu, 08/11/2011 - 13:42 | 1551472 Joe Sixpack
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Give it half an hour or so for the news to get out. Sheesh.

Mon, 12/19/2011 - 08:25 | 1993620 jaffa
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Wed, 12/07/2011 - 06:11 | 1954125 jaffa
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Thu, 08/11/2011 - 13:19 | 1551407 pan
pan's picture

Tipping point?

Thu, 08/11/2011 - 13:19 | 1551409 Greater Fool
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Holy 10-30 steepeners, Batman!

Thu, 08/11/2011 - 13:19 | 1551410 Turd Ferguson
Turd Ferguson's picture

"what today's auction has proven is that going forward the Fed will be forced to crash the market every day that there is a Treasury auction, while ramping stocks on days when Treasury does not need to fund its borrowing binge." 

No truer words have been typed.

Thu, 08/11/2011 - 13:31 | 1551449 Chief KnocAHoma
Chief KnocAHoma's picture

You mean the Fed would crash markets just to direct money into one assett class like some grand master in an Orwellian World. Immposible! We live in a free society and believe in free markets!

Damn it... I almost said that without laughing.

I am The Chief

PS - buy land - http://sotcksdairyroadfarm.blogspot.com/

Thu, 08/11/2011 - 14:31 | 1551587 takinthehighway
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If you're in the market for a retreat, may I suggest...

Thu, 08/11/2011 - 13:42 | 1551473 pods
pods's picture

Absolutely.  The FED will do this until the swings become too great that people leave the markets (the ones left) for good.  
Then QE3 will be cemented.  Just too much debt has to be sold at too low of rates.  That has to come from somewhere.


Thu, 08/11/2011 - 13:20 | 1551411 SheepDog-One
SheepDog-One's picture

'Failed bond auctions'...well thats got to be bullish! Maybe bullshit is what I meant.

Thu, 08/11/2011 - 14:01 | 1551515 DosZap
DosZap's picture

 SheepDog-One @13:20

Failed Bond Auctions, good for drop in Gold..................................BULLISH!!!!!!!!!.

$75.00 drop from High,in 24hrs,not done yet, yeah, that's a Parabola.

Thu, 08/11/2011 - 13:20 | 1551413 fuu
fuu's picture


Thu, 08/11/2011 - 13:21 | 1551415 Larry Darrell
Larry Darrell's picture

So is the top in in bonds (yields at lowest they will get)??

Because I'm meeting about loan refinancing in an hour and a half.  it would be nice to lock it at just the right time.

Thu, 08/11/2011 - 13:28 | 1551437 FLIP THAT BOND
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If you abide by the theory that QE3 will be announce on Aug 26 at Jackson Hole, then the sell off in stocks will probably continue until then and therefore force yields lower.  My guess on the best time to refi will be Aug. 25, right before QE3.

Thu, 08/11/2011 - 13:39 | 1551467 gkm
gkm's picture

John Najarian is only good for one thing IMO and that is this lesson:  "Don't be penny wise and dollar foolish".

Thu, 08/11/2011 - 13:40 | 1551469 nodhannum
nodhannum's picture

Larry, I just got confirmation that I locked in with my bank at 3.375% for a 15 ur fixed with no origination and no points..,Youssa!!! I close next week. What idiot loans money like that :-))

Thu, 08/11/2011 - 13:45 | 1551478 pods
pods's picture

Ones who need a housing market to keep the ponzi going.

Disclosure:  Still sitting in a 30 year ARM.  Now at 2.5%.  Figure if you are going to play chicken, better to be on the side of Uncle Gorilla, as they need low rates too.


Thu, 08/11/2011 - 14:30 | 1551585 NotApplicable
NotApplicable's picture

So you're the one keeping the ARM market going.

I just talked to a coworker who refi'd yesterday (20yr @ 4.25). Meanwhile, i just called my guy to refi my VA loan (30yr @ 4.0)

Thu, 08/11/2011 - 14:42 | 1551629 pods
pods's picture

I took it out in like 2005 I think, at 3.5%.  It has moved up and down a bit, adjusts yearly, 1 point max per year, 7.5% up limit, no down limit.  It is impaired, as WF just registered it earlier this year.  They wanted to refi me. I said no thanks, then they registered it with the registrar of deeds.  


Thu, 08/11/2011 - 14:37 | 1551612 Manthong
Manthong's picture

ARMs are great if you've got the cash to pay off the loan when the SHTF.

Thu, 08/11/2011 - 14:45 | 1551640 pods
pods's picture

It has a max rate of 7.5%, so it cannot break me from interest rate alone.  Only can go up 1 point per year as well, so it would be 5+ years before I hit the top rate again.  If (when) TSHTF, I got a bug out spot and could really just up an leave with the door locked and the power off. Pretty stable area, but always have backup.


Thu, 08/11/2011 - 13:22 | 1551416 snowball777
snowball777's picture

Not with the proverbial bargepole...


Thu, 08/11/2011 - 13:22 | 1551417 Mactheknife
Mactheknife's picture

Backed the truck up yesterday on TBT...no-brainer :-)

Thu, 08/11/2011 - 13:22 | 1551418 RockyRacoon
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Thu, 08/11/2011 - 13:23 | 1551422 max2205
max2205's picture

massacred the TLT boys....Fewd reset to pump stocks...will it work...this was all preplanned no doubt

Thu, 08/11/2011 - 13:24 | 1551423 AlaricBalth
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Looks like China has had enough of our fiscal mess. “The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone” and “China, the largest creditor of the world’s sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of China’s dollar assets,” China’s state-run Xinhua News Agency said Saturday Aug 6, 2011.

Thu, 08/11/2011 - 13:35 | 1551459 hedgeless_horseman
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Thu, 08/11/2011 - 13:41 | 1551470 baby_BLYTHE
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Thu, 08/11/2011 - 13:43 | 1551474 RobD
RobD's picture

Umm...WTF? LOL, how long have you had that one ready to go hh?

Thu, 08/11/2011 - 13:50 | 1551491 slaughterer
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Is that the "smiling O" picture Tyler likes to use when O gives a telepromper tennis eyes performance?  I think it is.

Thu, 08/11/2011 - 14:24 | 1551566 I Got Worms
I Got Worms's picture

That picture you're referring to never fails to crack me up.

Thu, 08/11/2011 - 14:42 | 1551631 Manthong
Thu, 08/11/2011 - 13:52 | 1551495 Weimar Ben Bernanke
Weimar Ben Bernanke's picture

No lube I guess........

Thu, 08/11/2011 - 13:24 | 1551424 monopoly
monopoly's picture

And so it begins. TBT up 9%. Fasten those seat belts, and trays locked in an upright position please.

Thu, 08/11/2011 - 13:25 | 1551426 nobita
nobita's picture

I get the feeling that this is not a run on treasuries or a run on stocks or the dollar. This is a run on America.

Thu, 08/11/2011 - 13:47 | 1551488 ZippyDooDah
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Run, America, run!

Thu, 08/11/2011 - 17:00 | 1552093 snowball777
snowball777's picture

Hey, who tied these shoelaces together?!

Thu, 08/11/2011 - 13:25 | 1551428 Steroid
Steroid's picture

This explains why the DOW is up!

Thu, 08/11/2011 - 13:26 | 1551431 vote_libertaria...
vote_libertarian_party's picture

Nobody thinks beyond a 2 minute horizon.

If the Fed isn't buying with their vapor money the gvt needs to find $120B in new buyers every MONTH.

10yr should be at 20% not 2%.

Thu, 08/11/2011 - 13:26 | 1551433 SRV - ES339
SRV - ES339's picture

what today's auction has proven is that going forward the Fed will be forced to crash the market every day that there is a Treasury auction

... along with PMs (which has been going on for months).

Thu, 08/11/2011 - 13:28 | 1551439 FunkyOldGeezer
FunkyOldGeezer's picture

what today's auction has proven is that going forward the Fed will be forced to crash the market every day that there is a Treasury auction, while ramping stocks on days when Treasury does not need to fund its borrowing binge.


If you had the actual data to prove this, the game would truly be over. Everyone would pile into the same bet depending on which day it was in their auction cycle.

Thu, 08/11/2011 - 13:41 | 1551471 fuu
fuu's picture

"If you had the actual data to prove this, the game would truly be over."

Some days I miss the junk button.

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