The chance to sell 3 handles in 10s has just disappeared. I remain steadfast in my pessimistic view of the long end of the US bond market! In any case I was once again shocked by the ECB today (this is getting old). So I was imagining that the fed funds rate had shot...
A few focus points this morning. First, the ECB continues to be a thorn in the side of global markets by failing to realize it is feeding a debt/deflation spiral in southern Europe. The latest weekly liquidity drain to sterilize purchases came at a whopping 56bps....
Global fiscal austerity fears and disappointment on the US data front have us flirting with some steamy levels in US Treasuries. Those portfolio managers buying long end Treasuries at these levels in hopes of a rally should seriously consider the economic outlook they...
With 10s at 2.95% we are a mere 90bps from the "end of the world" lows in 2008/09. At that time the entire financial system was broken, global trade had halted, the payment system was on the brink of collapse, growth in emerging Asia was falling at 20%+ rates, the ISM...
In the last 9 days, 10 year UST yields have fallen 40bps and spoos are down nearly 10%. Both are now at lows for the year. Certainly that was not how I saw Q2 ending, and frankly I remain stumped by the magnitude of the moves. Have the facts in the last 2 weeks...
In the last 9 days, 10 year UST yields have fallen 40bps and spoos are down nearly 10%. Both are now at lows for the year. Certainly that was not how I saw Q2 ending, and frankly I remain stumped by the magnitude of the moves. Have the facts in the last 2 weeks changed […]
