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Dealers Rescue Very Weak 2 Year Auction As Indirects Flee From Short End, Despite Record Low Yield

Following recent speculation originating from Bill Gross that Operation Twist would materialize possibly as soon as last week's FOMC statement and cap rates on 2-3 Year Bonds, the yield on the 3 Year had fallen to unprecedented low levels. Well, the FOMC came and went, and now everyone has to wait until this year's version of Jackson Hole for OT2 to come to market. However, many have decided not to wait.
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Weak 3 Year Aution Sees Lowest Indirect Take Down Since 2007 Despite Record Low Yield

Business & Finance : Zero Hedge (2 years ago)

A rather curious result in today's just completed 3 Year $32 billion bond auction, which concluded on surprisingly weak terms, despite the High Yield coming at 0.327% or precisely where the When Issued expected it would, which also ... Read Post

Dow Record Close Despite Bond Yields, Bullion, & Black Gold Battering

Business & Finance : Zero Hedge (8 hours ago)

Despite the best efforts of business media to paint a rosy picture of the Black Friday spend-fest, stocks had only one trajectory - from upper left to lower right - from the open. Small Caps were slammed but all major indices gave u... Read Post

Italy's Temporary "Glass Half Full" Insanity

Business & Finance : Zero Hedge (38 minutes ago)

Yesterday it was the French, with record high unemployment and record low bond yields. Today, it is the turn of the Italians as the unemployment rate rose to 13.2% - the highest since records began - as bond yields continue to plumb... Read Post

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