the violence in treasuries is pretty nutty
tnx and fvx above yesterdays highs...huge spike near the open in 3 5 min bars
no flight to safety which is a bit troubling...
here is an old screen shot from 10.08.08 when i remember similar moves in equity/bonds...it was a pivotal day
and here is today
interesting...wonder how this resolves itself...last time it wasnt good
2 comments:
Copy and paste from thornturd board.
""WTF!? Yeah Ok. See what happens when I'm not paying good attention. I post babble.
On the one hand the TA for tnx shows testing double top resistance. Which on an ascending triangle it should break out. Scary! Yeah I know TA is not reeeealy apro for this but still.
On the other, with all these new issues...demand is in short supply?
Maybe trying to drive up yield a little to satisfy the Chinese?
Currencies? I have no ability to keep up with that ""
SMC RESPONSE
""yeah would be real bad if tnx break out to the upside...but OTOH it would help to curtail some of this out of control spending crap that washington is doing
for some unknown reason i had CNBC on early today (prolly cause if we go mad max i will makve trump's daughter my love slave)(and also why do they have her on other than fluff, isnt trump losing his azz???) and they had some dude that said that this cant be COMPARED TO GDI because the gov't is backstopping all types of chit
i wanted to ask him...well what happens if all this chit the gov't is backstopping blows up and the govvy is on the hook for it...something on the order of 5 trillion and we have just started...surely they will continue once pension funds and insurers blow up...of course none of those tards asked that ? but i think it is worthy of thought...obviously if this happened the bond market would meltdown and well the gov't couldnt fund itself or make good on those backstops...so yeah i suppose that wouldnt be compared to GD...it would be something worse...
oh happy days...at least i got a few scalps today that were nice...traded in and out of spy 73's everytime we approached the pin lows from yesterday... """
Everything just keeps getting more complex. I haven't paid real close attention to AIG ordeal, but are murmors as to whether to backstop all the CDS exposure or not.
All the other whispers going on as well about mark2market or this and that.
I had thought about adding a little more amzn and sndk...not yet.
tbt call write may have gone thru by now. Prolly wouldn't hurt to wait on that.
My attention level is at about 20% right now, so I need to be careful
we backstop AIG CDS and that is some bad chit for sure...and it sets precedence for more and more...if it dont end this time round, unless we make serious changes, it will most certainly end in tears or blood...but likely the first blow ups will be other than the US...
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