Silver as an investment

Category Archives: microeconomics

Ugly, Tailing 7 Year Auction Spooks Market As Foreign Buyers Flee

After one poor and one mediocre auction, today’s sale of $28 billion in 7 year paper was a fiasco, stopping at 2.23%, a massive 1.7bps tail to the 2.213% When Issued, if below last month’s 2.28% courtesy of the ongoing yield curve flattening which increasingly include the belly of the curve. The internals were just […]

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 […]

Bid To Cover Tumbles In Ugly, Tailing 7 Year Auction

After two mediocre, tailing auctions, moments ago the Treasury sold $28 billion in 7 year paper in this week’s final bond issuance and it was the ugliest of all. Stopping at a high yield of 2.28%, this was a tail of 0.8bps – the first since July – to the 2.272% When Issued and the […]

Record High Stocks, Record Low VIX But Bitcoin, Bonds, & Bullion Bid

Buy it all… On the week – Stocks are up, Treasury Bonds are up, Corporate Bonds are up, Gold is up, Bitcoin is up, and WTI Crude is up…   Before we get started – consider the following…   And perhaps this will help explain last week's action compared to this week's? Everything reversed trend […]

Paul Craig Roberts Warns Americans: “Oligarchic Rule Prevails Regardless Of Electoral Outcomes”

Authored by Paul Craig Roberts, Do the Wall Street Journal’s editorial page editors read their own newspaper? The frontpage headline story for the Labor Day weekend was “Low Wage Growth Challenges Fed.” Despite an alleged 4.4% unemployment rate, which is full employment, there is no real growth in wages. The front page story pointed out […]

“Tremendous” Demand For 7Y Treasurys; Second Largest Buyside On Record

An ugly 2Y auction (with the highest yield since 2008) on Tuesday, a mediocre 5Y auction yesterday, and now a blistering 7Y auction, in which the Treasury sold $28 billion in “curve belly” notes at a high yield of 2.13%, stopping through the When Issued by a surprisingly strong 1.1bps, the highest since April. As […]

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 […]

Primary Dealer Bid Surges In Poor 2Y Auction

While the high yield of the just priced 2Y auction came “on the screws” at 1.345%, below last month’s 1.401%, but above the six previous auction average of 1.305%. and exactly where the When Issued suggested today’s auction of $26 billion in 2Y notes would price, the internals were decidedly weaker than the stop out […]

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 […]

Galbraith Was Right About Advertising

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. mises.org / by Robert Batemarco / Tuesday, February 25, 2014 Now that I have your attention, rest assured that even when John Kenneth Galbraith got something right, he got it wrong. One of the signature ideas for which Galbraith is known is the Dependence […]