(Un)Lucky Town: US Treasury Bill Curve Collapses On Debt Ceiling Concerns (While Fed’s Stanley Fischer Resigns as Vice Chair)

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

Share!Tweet about this on TwitterShare on FacebookShare on LinkedInEmail this to someonePrint this page

Yes, Washington DC is not Bruce Springsteen’s “Lucky Town.” In fact, it is unlucky … for the rest of us given their insane spending habits.

fedsp

The US Treasury Bills curve collapsed this morning.

collaptbill

The Treasury bill maturing on October 5, 2017 declined from 1.20% a couple of days ago to 1.067% today.

tbillyiles

The shift in the Treasury bill curve since September 1 can be seen here:

ycsepy1

While we see a little disturbance in the US CDS 5Y, it is almost undetectable in the US CDS 1Y.

uscds15

Finally, The Federal Reserve’s Vice Chairman Stanley Fischer has resigned suddenly for personal reasons.

1-36ae8d95f9

Here are members of Congress working towards resolving an increase in the debt ceiling.

Wall Street Examiner Disclaimer:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I am also a contractor for Money Map Press, publisher of Money Morning, Sure Money, and other information products. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. In some cases promotional consideration is paid on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

Leave a Reply