Posted on 08/04/2011 6:03:53 PM PDT by Nachum
NEW YORK (AP) -- Prices for Treasury securities jumped Thursday, sending the yield on the two-year note to a record low, as investors rushed to U.S. government debt in search of safety.
Stocks tumbled around the world on worries that the U.S. economy is weakening and that Europe's debt problems are getting worse. The Dow Jones industrial average fell 513 points, its biggest drop since December 2008.
The yield on the two-year Treasury note fell to 0.26 percent, a record low. Late Wednesday it was 0.34 percent. Bond yields fall when demand for them increases. That means traders are willing to accept smaller returns in exchange for investments they consider to be relatively stable.
(Excerpt) Read more at hosted.ap.org ...
The list, ping
Let me know if you would like to be on or off the ping list
note: this is still the place where the money comes in times of trouble.
For now. Soon it will just be gold.
Now that's really funny.
Now that's really funny.
“Soon it will just be gold”
Dur you know how much gold there is in the world?
Not a month of US payroll.
Zer0's entering his 'Jimmy Carter' phase, where the majority of people begin to just tune him out and realize he is a failed president who's words no longer inspire and instead create malaise and concern for the nation. Now all we need is that Plains, Georgia rabbit from 1979.
Happy Ramadan You Eff'n Commie
Love that pic.
The house is on fire and the only safe place is to dive into the cesspool.
You know, that's just not so. That's a myth. Gold has its place. But the living world has need of the employment of capital in a multitude of ways, and it will (continue to) go there as well.
Parenthetically, things must be REALLY BAD if the US Treasury is still the destination of the the Flight to Quality! But the world knows: in 2012 the enemies of prosperity will be gone.
15 year fixed mortgages will be down tomorrow after rates are posted with local lenders around 11:00am EST.
I’m gonna refinance...probably be at 3.25% or slightly lower.
I just need to find a job before I visit the bank tomorrow to do the loan app...
CNBC said the 2 yr. went negative for a bit and was still getting bids.
Offering to pay someone to hold your money...sheesh.
wonder if this is related
http://www.youtube.com/watch?v=2ssrcD5GdPQ&feature=youtu.be
I confess I have to wonder if this is a flight to quality or a bet on QE3.
Yeah, that and gold. Funny how serious things seem when things get serious. I just find myself praying a lot more lately.
I don't believe anyone considers 0.26% percent interest to be an investment. It's more like a parking place while they hope like hell it doesn't go into sub-zero interest territory.
And in so doing, made it possible for the U.S. Treasury to borrow even more cheaply.
Wonderful as long as it lasts...
Some funds are legally obliged to buy U.S. Treasuries with (some of) the money that comes in. Even if the yield goes negative, they have no choice in the matter.
The Recession is over.S/ It’s not a Depression.S/ It must just be a Repression.
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