This is big.
In a panic over the surge in the 10 year Treasury yield and the attendant fall in Treasury note and bond prices, the US Treasury announced today that it would pay down $55 billion in outstanding T-bills.
Term and Type: 42-Day Bill
CMB: Yes
High Rate: 0.040%
Term and Type: 119-Day Bill
CMB: Yes
High Rate: 0.050%
Term and Type: 42-Day Bill
CMB: Yes
Offering Amount: 30 Billion
Term and Type: 119-Day Bill CMB: Yes Offering Amount: 30 Billion
OK. I keed. I keed. I don’t know, but the hourly looks like one of those giant cranes that is about ready to fall over and destroy a bunch of stuff on the way down.
Look at the hourly oscillators. There’s a helluva negative divergence on tw…
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Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
This is a holiday-shortened week in the US but there is some important data on tap. Retail sales are expected to show a month-to-month rise for the first time since September. Year-over-year numbers remain pretty subdued and likely will until life returns to something resembling normal. Producer prices will likely rise but inflation continues its […]
If you are a cranky grizzly like me, you want to be short. Well, trust me, anytime someone says “Trust me,” I don’t trust them.…