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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (396536)	10/28/2009 12:25:28 PM
From: MythMan	Read Replies (1) \| Respond to of 436258

I guess not. They get laid off?

To: Real Man who wrote (396536)	10/28/2009 12:34:00 PM
From: Trumptown	1 Recommendation Read Replies (1) \| Respond to of 436258

picked this off another board...more up your alley, but doesn't sound good... <<If you look at the TNX (index representing 10 times the 10yr bond yield), one notices that from open to close, it followed a straight line down, with the only objection coming around 1PM. This was squelched. Given how the SPX behaved yesterday, I would suggest that liquidity was being applied to get the yield down in order to provide a decent auction for the 2year. In other words, at the margin the liquidity is the financial system is so over-extended that it is becoming difficult for dramatic moves in multiple asset classes. From Reuters, here is today’s schedule: 10:30 Fed agency coupon purchase (Nov 15, 2011 to Oct 18, 2013) 11:30 Treasury auctions $25 bln 300-day Cash Management Bills 13:00 Treasury auctions $41 bln 5-year notes Last of the POMO at 10:30 perhaps [Mole: POMO is happening tomorrow] – restoring some liquidity from yesterday’s auction. The amounts being issued today are hefty. It would surprise me if the POMO leads to a big pop. Also remember that there is a TAF maturity coming up next week – Thursday if I remember correctly. Watch the auctions and more specifically, what it does to yields. This is the first time that I’ve noticed that the games of pushing yield up before a major auction to get a cheaper price, has NOT been working for the “hedge funds”.>>