A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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BloombergTreasury Yield Close to Record Low on Europe Debt CrisisBloombergTreasury 10-year yields, the benchmark for everything from corporate bonds to mortgages, were four basis points from the record low as Europe's fiscal crisis drove demand for...
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Globe and MailTreasury Yield Is 10 Basis Points From Low on GreeceBusinessWeekBy Wes Goodman on May 15, 2012 Treasury 10-year yields were 10 basis points from the record low after German Finance Minister Wolfgang Schaeuble said a Greek election would b...
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Globe and MailTreasury Yield Is 10 Basis Points From Low on GreeceBusinessWeekBy Wes Goodman on May 15, 2012 Treasury 10-year yields were 10 basis points from the record low after German Finance Minister Wolfgang Schaeuble said a Greek election would b...
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The headline number for retail sales today was an increase of 0.1% month to month, seasonally adjusted, which exactly met the conomic consensual sextimate of 0.1%. Here’s how Bloomberg put it. U.S. Retail Sales Cool After Warm-Weather Spree: Economy Retail sales rose in April at the slowest pace of the year as Americans took...
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Telegraph.co.ukStocks, euro drop as deadlock continues in GreeceBusinessWeekBy MATTHEW CRAFT A political stalemate in Greece rattled financial markets worldwide on Monday, sending US stocks lower. The price of oil and Treasury yields hit their lowest l...
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BloombergUS Treasurys Rally On Greece Fears; Yields Test Historic LowsWall Street JournalBy Cynthia Lin Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- The global scramble for safe-haven assets sparked by Greece's political shuffle is firing up deman...
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BloombergItaly sells 3-yr bond below market yieldReuters| MILAN May 14 (Reuters) - Italian borrowing costs remained under pressure on Monday at the first bond auction by a peripheral euro zone issuer after a Greek vote brought into question the country...
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The composite liquidity indicator edged higher last week, continuing a slow but steady uptrend. In February and March, the indicator had accelerated upward away from its 39 week moving average. That acceleration has slowed, but the indicator continues to advance. With somewhat less abundant liquidity, the government and Primary Dealers have targeted that liquidity...
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The following is the executive summary of the Wall Street Examiner Professional Edition Housing Update. The complete report with illustrative charts and analysis is available to subscribers here. The report is also available via 30 day risk free trial. Click here for information. This is as good as it gets for the Treasury market....
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Treasury yields reached the top of the recent range and appeared headed for a breakout when along came Ben, with his mighty arms outstretched he lifts up the playing field and tilts it, and back down yields went, in spite of the big week of Treasury auctions and the market facing a big wad...
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Treasury yields fell to a key resistance level, and then rebounded sharply to break a 6 month downtrend line this week. It’s too early to call a turn, but the fact that it happened during a week when Treasury supply was non-existent—actually there was a paydown—and when foreign central banks showed up and actually...
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The Treasury rally got some help this week from a surge in Federal Withholding Tax collections that is helping to keep new supply down. Whereas new supply had been exceeding TBAC estimates for the past couple of months, it has come back in line with estimates, and could be reduced even further in the...
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Volume Lowest in 10 Years
Munis Ended 2011 At $295 Billion
Tuesday, January 3, 2012
By Taylor Riggs
A 10-year low of new municipal bond issuance is what was on everyone’s mind in 2011.
Last year, only $295 billion of bonds were issued, down almost...
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What’s the big story for 2012?
I think that finally this’ll be the year that Treasury yields begin to rise. A lot of people, a lot of smart people have been bears on Treasuries and have been wrong about it. The technical work that I do has said ...
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Tracking foreign central bank (FCB) holdings of US Treasury and Agency (Fannie, Freddie, and minor government agencies) paper has been one of the most important lines of inquiry in my analysis of market liquidity for the past 9 years. This information is available virtually in real time each week in the Fed’s weekly H41...
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Two weeks ago I began to report to subscribers of the Wall Street Examiner Professional Edition Fed Report that foreign central banks (FCBs) had begun to engage in unprecedented levels of disgorgement of their massive holdings of US Treasury and Agency paper. Prior to this year, the FCBs had typically absorbed the equivalent of...
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Foreign central bank dumping of Treasuries and Agencies continued this week, although not at the frenetic pace of the past two weeks. This activity may be beginning to take a toll on the Treasury market, where yields are showing signs of possibly having bottomed. Treasury supply was light with no net new supply settling...
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Most savers and investors are experiencing that quiet desperation of which Thoreau wrote. The inflation of the money supply provided by the central banks almost everywhere across the globe has found its way into into financial assets, including bon...
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The following is the summary lead-in to this week’s Wall Street Examiner Professional Edition Treasury Update. The subscriber link to the full report is below. A massive wave of panic buying has sent Treasury yields plunging to record lows. Data shows foreign central banks were net sellers in recent weeks, continuing a trend of...
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Heh, to paraphrase and hopelessly twist Robeert Duvall's famous line in the movie "Apocalypse Now", the chart below smells like "victory" for the "The Great Disintegration" I was sure was taking place three years ago--then was just as sure was stopped ...
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Capital flight out of Europe into the US banking system continues to result in a surge in money supply and a variety of other banking measures. It is causing a cycle where banks are literally forced to buy Treasuries, Treasury yields plunge, mortgage rates fall, and a massive wave of mortgage refinancings causes bank...
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The market isn't an easy place for income investors right now.
Stocks are too volatile, U.S. Treasury yields are anemic, and a strong reliable dividend is a rarity.
But income investors have a relatively new way they can use options to collect solid payouts on a routine basis....
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The markets faced massive Treasury supply this week and shook, rattled, and rolled as a result. Surprise, surprise, surprise—not— the Treasury market got the benefit of the instability, as investors were scared out of stocks and all things European, and into Treasuries. However, in case you didn’t notice, after last week’s big Treasury rally...
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Next week’s Treasury calendar is light, with another paydown on Thursday and plenty of POMO, so if ever stocks had an excuse to rally, this would be it. The Federal Government would probably be happy to see stocks rally at the expense of a selloff in Treasuries since the government is not selling notes...
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And soon it will end. Then what? The Treasury calendar was heavy this week, with 3 and 10 year notes and 30 year bonds auctioned in addition to the weekly bill auctions. It got even heavier when the Treasury announced a surprise $15 billion cash management bill to tide the government over until June...
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June 3, 2011
Note from dshort: I've updated my Treasury yield charts through Friday's close. The 10-year note yield, now at 2.99%, remains below both its 50- and 200-day moving averages at levels last seen in early December. As the first chart ill...
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