Silver as an investment

Category Archives: Fixed income analysis

Gold Pops As Bitcoin Drops, Dollar Snaps Longest Win Streak Since Jan 2016

"Contained"…   Post-FOMC, Gold was the biggest gainer…   US Equities were holding to gains but tumbled in the last few minutes with the S&P turning red…   Nasdaq manged to hold gains after The Fed…   VIX was noisy around CPI early on and snapped higher into the close (breaking above the terrifying level […]

You Know It’s Late In The Cycle When The Yield Curve Starts Generating Headlines

Authored by John Rubino via DollarCollapse.com, The yield curve is one of those indicators that most people have heard of but few can explain. In part this is because it’s usually a non-issue, only becoming important enough to argue about during the final year of long expansions. Like now: Yield curve flattening maintains relentless momentum […]

Is This The Real Reason Why The Treasury Curve Has Been Collapsing For A Month?

A 'funny' thing happened a month ago. The Treasury yield curve suddenly started to collapse… despite gains in stocks and positive economi data surprises… the question is, why? Here's one possible reason why.. Originally submitted by GovTrader, TL/DR: Tax reform creates pension fund incentive to buy 30yr bonds NOW. Currently, the top corp tax rate […]

Deutsche: Every Time We Asked “How Much Lower Could Vol Go” Things Would Become Unpleasant

According to Deutsche Bank’s Aleksandar Kocic, we live in a reflexive world, one where “the Fed knows that the market knows and the market knows that the Fed knows that the market knows, so everyone knows, but pretends that nobody knows and the game goes on.” That pretty much covers much of modern market analysis […]

Treasury Curve Flattens After Strong, Stopping Through 30Y Auction

After a mediocre 3Y, and a strong 10Y auction in the last two days, the Treasury concluded its refunding on the right foot – if with some blemishes – selling $15 billion in 30Y bonds at a 2.801% yield, stopping through the WI 2.802% by the smallest possible margin, and below last month’s 2.870%. There […]

Tailing 2-Year Auction Prints At Highest Yield Since 2008

Having spooked the bond market earlier with her surprisingly hawkish remarks, and sending the 2Y surging while flattening the curve even more, moments ago the Treasury sold $26 billion in 2 Year paper at a yield of 1.462%, a notable jump from last month’s 1.345%, and the highest since October 2008. It also tailed by […]

An Insane Bond Market In 4 Charts: “Italian Junk Bonds Yield Less Than US Treasurys”

In our “WTF Chart of the day” from last Friday, we showed something stunning: European junk bonds yields were the same, and in some cases lower, than comparable-maturity 10Y US Treasurys. In other words, the distortion unleashed by Mario Draghi’s CSPP, or corporate bond buying program unveiled last March, has made European junk bonds “safer” […]

Gold Erases Flash-Crash Losses As Dollar, Bond Yields Slide After Dismal ISM Data

When even the 'soft' survey data is disappointing – catching down to collapsing 'hard' data – it seems markets can't ignore reality any longer. While stocks are marginally lower following the collapse in ISM Services, Bond yields and the dollar are tumbling as gold lifts… The Dolar Index is testing yesterday's lows (and cycle lows)… […]

3-Month Treasury-Bill Auction Prices At Highest Yield Since Lehman On Debt-Ceiling Concerns

It seems Morgan Stanely was right when they said "the debt ceiling worries us most," as today's 3-month T-Bill auction surprised the market with its highest yield since the fall of 2008, as investors continue to price concerns that the U.S. government will exhaust its borrowing authority around mid-October. As SMRA details: The 3-month bill […]

“What If”: Citi Models A World Where The Fed Hikes All The Way To 3%

It is becoming increasingly apparent that the Fed, now data-independent, has just one mandate: keep hiking interest rates until markets break. That is the conclusion of Citi’s Jeremy Hale, who writes that the FOMC minutes pointed to a view that financial conditions had eased despite the previous Fed hikes because equities had rallied and corporate […]