Tuesday, April 14, 2009

One Month T-Bill at 0.08%

Not yet at the negative yields we saw in November, but if today's 4x oversubscribed one month bill auction is any indication, look for the yield to grind to zero if not lower very soon. To give Steve Liesman props where it is due, "This is panic buying!?"

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17 comments:

Anonymous said...

I spoke to a mny mkt desk about this. Just small issuances by the govt and lots of cash sitting around idle. Not indicative of panic.

Anonymous said...

right click -->Open in New Windowhttp://www.collegian.psu.edu/photos/2009/03/19/13_640x520.jpg

Anonymous said...

i dont think its panic but rather money mkt managers gaming the bidding process so they actually get the allocation they want. Ie bidding for 4x knowing only 25% will get filed

Anonymous said...

if this equity rally had legs, wouldn't money be coming out of the short-term t-bills, raising yields? IRX has done nothing since 01/02/09 but headed down. Not a good sign.

Anonymous said...

David Viniar, Goldman Sachs Group Inc.’s chief financial officer, said he’s “mystified” by the interest investors and government officials have shown in the bank’s trading relationship with American Insurance Group Inc.

“They’re one of thousands and thousands and thousands of counterparties and the results of any trading with AIG are completely immaterial to what we do,” Viniar said today in an interview. “I am mystified by this fascination with AIG.”

http://www.bloomberg.com/apps/news?pid=20601110&sid=aY.ISqynmYLg

LOL

Anonymous said...

There is an INCREDIBLE amount of cash sitting around unwilling to be put into risk assets. We can see some flows into equities from mny mkts, but its going to take a long time for people to accept risk again.

James said...

There is incredible amount of cash on the sidelines? huh. Thats a joke right? If enough people had cash we wouldnt have this problem right now.

Anonymous said...

I simultaneously find this comical and don't fully understand. He's essentially saying if these thousands and thousands of plain old counterparties bought their way out of CDS obligations GS would be looking at an influx of some multiple of $13 trillion? Is that why I'm laughing? It's difficult to keep track anymore...

TPC said...

It's a joke to think that this is panic. This is simply more of the same from the bonds vs equities battle. Bond investors are remaining incredibly cautious while equity traders have been running hog wild buying up everything.

Who will win this battle? The bond market just like they always do...

Anonymous said...

Could someone pass me the Vaseline please?

Anonymous said...

Don't know if anyone is watching, but how redundant and remedial are the questions asked to Bernanke by the 'students' at Yo-yo-Howard Univ?

There's your future Obamas repres-in' A-Town an' the Bankhead Highway, yo.

Anonymous said...

You guys listening to bernanke answer questions from college seniors right now. Is this really newsworthy? Typical smokescreen tactics to lull you to sleep while the muthafukcin thieves are busy crunching data to find out which way they need to push things to f@#$ the most number of people before expiration.

Regarding CDS's. Why don't they just come out and tell the truth already. CDS's were "instruments" created by the muthafukcas to stick it to jumbo-sized bagholders stupid enough write them. Most likely a gigantic GS induced margin call on big slow money. And paulson and timmay geithner just did their part to make sure the good ol golden boys got paid off on their bets.

Anonymous said...

Goldmansach666 is a dis-info site put up by Goldman, to tell us all the obvious facts, that we already know, thereby distracting us from the real conspiracy of GS crahing the market in 08!
Here is how I see it.
1. GS shorts the ABX(subprime) in 07. Makes a Billion or 2. Sends a ripple in the markets.
2. GS men at the Exchanges raise margin requirements forcing massive liquidation in JULy 07, not to mention cornering the oil market.
3. GS men at the SEC raise margin in 08, lower regulation increasingly over entire tenure.
4. There man Hank Paulson took Lehman in the other room, executation style. That really got things rolling (downhill)
5. Then, GS influence at Mood'yS(warren buffet) slashed AIG rating forcing them to find Billlions overnigth,
6.Then Hank Pauslon shows up with his $700 Billion ransome note. After stock markets crash around the world for 10 days, congress gives the big five banks their money.
7. Jim Cramer, former partner of GS, after watching the market crash for 10 days, tells America to sell everything. If we see a rally this year, you know Cramer is in on it
8. Rubin was a trojan horse on Citi's Board, encouraging them to get long and heavy in realestate.
9. AIG and Citi were made fall guys from the beginning, "to big to fail" was the plot
10. It's possible that GS even inflitrated Freddie and Fannie. It's obvious IndyMAc was a front to push liars loans.

Anonymous said...

Goldmansach666 is a dis-info site put up by Goldman, to tell us all the obvious facts, that we already know, thereby distracting us from the real conspiracy of GS crahing the market in 08!
Here is how I see it.
1. GS shorts the ABX(subprime) in 07. Makes a Billion or 2. Sends a ripple in the markets.
2. GS men at the Exchanges raise margin requirements forcing massive liquidation in JULy 07, not to mention cornering the oil market.
3. GS men at the SEC raise margin in 08, lower regulation increasingly over entire tenure.
4. There man Hank Paulson took Lehman in the other room, executation style. That really got things rolling (downhill)
5. Then, GS influence at Mood'yS(warren buffet) slashed AIG rating forcing them to find Billlions overnigth,
6.Then Hank Pauslon shows up with his $700 Billion ransome note. After stock markets crash around the world for 10 days, congress gives the big five banks their money.
7. Jim Cramer, former partner of GS, after watching the market crash for 10 days, tells America to sell everything. If we see a rally this year, you know Cramer is in on it
8. Rubin was a trojan horse on Citi's Board, encouraging them to get long and heavy in realestate.
9. AIG and Citi were made fall guys from the beginning, "to big to fail" was the plot
10. It's possible that GS even inflitrated Freddie and Fannie. It's obvious IndyMAc was a front to push liars loans.

Anonymous said...

I do love to read your site.

I do love the whole "Fight Club" connotation. Tyler Durdan was and is one of my favorite fictional movie characters.

You seem to have a handle on this crisis, and I appreciate that. I have a college degree, and while I haven't used it in some time, I can handle the big words and technical jargon you sometimes go into on this site.

But be forewarned...if you give Steve Liesman props for anything ever again in this or any other lifetime, I will gladly go somewhere else for my information. If I wanted to see anything related to that hyperinflated overopinionated gasbag, I'd go watch CNBC with the sheeple, not read your blog.

What a horses ass he is. I hate him with a passion.

Steve Liesman deserves no credit for anything in this or any other lifetime. He is a shill for the administration, and, as I stated above, a complete and total horses ass.

Thank you for your time.

Anonymous said...

Anon relax, obviously there were 3 side dishes of sarcasm to that comment. Do a search for liesman to see TD's other thoughts on the "matter"

Kondratieff Winter said...

Something Wicked This Way Comes.