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Treasury Issues Fresh Batch Of 10 Year Bonds:Stench of Economic News Post-Election Unsurprising
Zero Hedge ^ | November 8, 2012 | Tyler Durden

Posted on 11/08/2012 5:32:51 AM PST by lbryce

The first day of the "next 4 years" is starting in a very auspicious fashion. First, the market crashes. Then, a major blue chip company, Boeing, just announced it would cut 30% of management jobs from 2010 levels. And finally, the US Treasury just added $24 billion in debt, or enough to fund Greece for over one year, sending the total debt load (the US is now at 103% debt/GDP) ever closer to the debt ceiling breaching $16.4 trillion.

But don't worry: over the next 4 years, the US government will add another $6-8 trillion in debt, so those who didn't get their allocation in this auction will have more than enough opportunity. As for this one, the yield was 1.68%, the lowest since August (but, but, what happened to the great rotation out of bonds and into stocks?), the Bid to Cover was 2.59, the lowest since last November and only higher compared to August' 2.49. And finally, the take down breakdown was uneventful: 46.2% for Dealers (to be promptly flipped back to the Fed - keep track of CUSIP 912828TY6), 39.7% for Indirects, or below the 12 TTM average of 41.28%, and Directs got 14.1%, also below the average, and lower than last month's 22.9%. As noted: uneventful. As also noted: there will be many, many more such auctions in the future, so those who wish to convert one paper into another will have ample opportunity to do so.



TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: conspiracy; coverup; msm
Wow. Beyond Outrageous.

So what we're now getting is adding insult to serious injury,mentally assaulted, insulted with an onslaught of the bad economic news otherwise held back by the presidential cohorts, reminiscent of the overflowing septic tank of severe economic news held back at all costs now being launched directly at, for us, the msm floodgates opening wide, the truth hitting the proverbial fan as NOT reported until post-election. No one here at FR can say they're surprised in the least.

1 posted on 11/08/2012 5:33:02 AM PST by lbryce
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To: lbryce

Two certainties under obama: 1) taxes will increase; 2) public debt will rise.

Allocate accordlingly.


2 posted on 11/08/2012 5:56:31 AM PST by gotribe (He's a mack-daddy http://www.youtube.com/watch?v=AV415yit7Zg)
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To: lbryce
Total unfunded obligations are a mind boggling 70-144 trillion dollars at the federal level alone. Add these.
Add the states burden (don't have a total yet, but it's six billion dollars for PA alone), and I think that this amount of money can never be paid back unless you just screw the currency up.

And as you inflate the hell out of your monetary unit, the populace starts to get restless because the have to weigh money instead of counting it.


3 posted on 11/08/2012 5:54:57 PM PST by ex91B10 (We've tried the Soap Box,the Ballot Box and the Jury Box; ONE BOX LEFT!)
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