In the same week which saw a dismal 2Y auction with the worst bid-to-cover in 11 years, and a whopper of a 5Y auction, moments ago the Treasury concluded its last coupon auction sale for the year, and the decade, in the form of a stellar auction of $32 billion in 7Y notes.
"This weight category includes autonomous passenger cars, mid-sized pickup trucks and cargo vans carrying goods such as pizza or groceries," the DMV said.
"Now we’re getting into a point in the year when balance-sheet problems are going to flare up, and I think the system will get gummed up again." - Zoltan Pozsar
China is trying to make it seem like it's some grand trade concession. It's not, and it merely confirms just how desperate China is becoming as food hyperinflation ravages its middle class.
The world over people are told that central banks pursue “price stability” by making sure that consumer goods prices do not rise by more than 2 percent per annum. This is, of course, a big sham...
