Free Republic

Daniel Burrell was arraigned in Nantucket District Court Friday on a fugitive from justice court warrant, according to court records.A former senior adviser to John Kerry’s presidential campaign was arrested Friday on Nantucket on a warrant out of Las Vegas following the sale of his foreclosed mansion on the island, multiple outlets reported. Daniel Burrell was arraigned in Nantucket District Court Friday on a fugitive from justice court warrant, according to court records. He was ordered to be committed to Barnstable County Correctional Facility after not posting bail, which was set at $10,000 cash... Burrell, a businessman in private equity...

Asia-Pacific markets continued Friday’s sell-off as investors awaited key trade data from China and Taiwan this week, as well as central bank decisions from Australia and India. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. In early Monday trading, the yen also strengthened to its highest...

The increasing likelihood of a second Trump administration has helped spark a selloff in U.S. government bonds, with investors betting policies including tax cuts could drive up deficits and inflation. Treasury yields, which rise when bond prices fall, started surging June 28, a day after a debate between President Biden and former President Donald Trump that Wall Street viewed as delivering a major blow to Biden’s re-election chances. A poor showing from Biden could also help tip control of Congress to Republicans, creating more space for their budget priorities. “Something obviously changed pretty quickly on Friday,” said Dan Mulholland, head...

The world's governments now have around $60 trillion in debt which is then sold to investors as bonds. So who owns this debt? In a note sent out to clients on Friday, Deutsche Bank chief global economist Torsten Sløk broke down who owns various countries' debts. One chart breaks down debt ownership for selected developed markets and the other for emerging market countries. For the US, the largest chunk of government debt is held by US-based non-bank investors followed by the governments of other countries.

Rates on U.S. government debt fell further Monday morning after construction- and manufacturing-related data came in below economists’ estimates. In data released on Monday, U.S. construction spending fell 0.1% for the month of April versus economists’ forecast for a 0.2% gain. In addition, the Institute for Supply Management’s manufacturing purchasing managers index came in at 48.7%, or below the median forecast of 49.6%, as the sector contracted for a second straight month. Traders are looking ahead to Friday’s release of the official jobs report for May, which is expected to show a 178,000 gain versus 175,000 in the prior month,...

Joe Biden could barely eat his dinner at the White House Correspondents’ Dinner. And we think he is calling the shots in The White House?? Oh well. Perhaps it is Treasury Secretary Janet Yellen or Klaus Schwab of the World Economic Forum. In any case, Treasury bond issuance in 2024 is expected to hit $1.9 TRILLION. Surpassing levels seen even during the 2008 financial crisis. And with inflation, the US personal saving rate is near the lowest level since Obama (2010). And with the core inflation rate still higher than anytime since 2010, households are paying more for … everything...

The systemic institutional antisemitism exposed by Rep. Elise Stefanik’s grilling of former Harvard President Gay is turning out to be a catastrophe for the oldest and formerly most prestigious university in the United States. The backlash of donors withholding funds appears to have created a cash flow crisis, forcing the university into the bond market at a time when interest rates are five times higher than the last time it issued bonds – to cover building projects -- in 2022. Kudos to Sidney K. Lee and Thomas J. Mete of the student-run Harvard Crimson for breaking this important story:Harvard announced...

This year the US has to roll over 7 trillion USD in bonds and finance an annual deficit of around 2 trillion on top of it. BRICS and Japan are nor going to buy US treasuries anymore. Up to now, US bond auctions did not fail because financial institutions had enough excess reserves deposited at the federal reserve to adsorb newly issues treasuries. However, this liquidity seems to dry up rapidly.

It has been over three years since the disastrous Covid economic shutdowns of 2020. And here we are again! US investment-grade bond yields have just had the biggest two-day drop since April 2020. And the US Treasury 10Y-2Y curve remains steeply inverted. Help me Jerome!

Nobody wants U.S. Treasury bonds. Once a symbol of America’s economic might and accepted as a global coin of the realm, they have fallen badly out of favor, with serious consequences for taxpayers, investors, and financial markets. Elementary economic forces — too much supply and not enough demand — have collided to create the worst stretch for U.S. government bonds since the Civil War. The government keeps borrowing to cover its budget deficits, while once-reliable buyers of that debt, both at home and abroad, have pulled back. The result: Investors are demanding the steepest yields since 2007. Auctions of fresh...

A massive $124.5 billion worth of bonds are now in default in the entire $175 billion China property dollar bond sector ... Counting October, there is a total of $60.5 billion worth of Chinese property bonds due in the next 6 months, with offshore bonds taking up at least one third of it .... Country Garden's international bondholders are now seeking urgent talks with the company. Strains have also shown in other companies. State-backed Sino-Ocean Group ... Another major developer Gemdale .. seen its bonds slide after the resignation of its chairman sparked fears that it too may be in...

Consumers are about to feel the impact of soaring bond yields, Blackstone president Johnathan Gray told the FT. The yield on the 10-year US Treasury continued to rise on Thursday, edging closer to 5%. Higher bond yields are raising borrowing costs all over the economy, from mortgages to personal loans. American consumers are about to feel the sting of soaring bond yields, Blackstone president Johnathan Gray said. Bond yields, which impact borrowing costs for all kinds of loan products, moved higher this week as investors fretted over higher-for-longer interest rates. After notching a 16-year-record earlier this month, the yield on...

Michael Pento discussed the current state of the bond market and warned of the potential collapse of the US dollar due to the erosion of faith in the world’s reserve currency. He advised investors to sell long duration bond exposure and invest in short term US government debt. Pento also discussed the inflation and GDP acceleration, as well as China and Japan’s selling of US treasuries. He warned of the massive issuance and supply of US debt and questioned who will buy it, as the Federal Reserve is no longer buying and is instead selling their balance sheet, adding to...

A Wall Street selloff intensified Tuesday as rising Treasury yields piled on pressure and investors got a reminder not to expect a Federal Reserve interest rate cut any time soon. The S&P 500 (^GSPC) dropped almost 1.1%, while the Dow Jones Industrial Average (^DJI) tumbled about 1.1%, or more than 350 points. The tech-heavy Nasdaq Composite (^IXIC) was down over 1.5% after closing with a gain on Monday. Hawkish comments by Fed policymakers reminded investors that resilience in the US economy likely means borrowing costs will stay higher for longer. Traders are now pricing in odds of 29% that policymakers...

Both the Treasury and the BOE knew when the APF was implemented that its early profits (£123.8 billion as of September last year) would become losses as interest rates rose. However, the pace at which the central bank has had to tighten monetary policy in a bid to tame inflation means the costs have risen more sharply than anticipated. Higher rates have driven down the value of the purchased government bonds — known as gilts — just as the BOE began selling them at a loss. uly’s public finances data showed that the Treasury transferred £14.3 billion over the month...

This is very strange. Global Treasury Yields just rose to a 15-year high (2008). This is primarily due to Central Bank moneta And REAL 10-year Treasury yields also the highest since 2009. At the same time, US industrial production is at the same level as pre-financial crisis (2007). Despite Federal Reserve monetary stimulypto (remember, The Fed’s balance sheet remains abouve $8 trillion. This is Obama/Biden/Yellenomics. Trillions of dollars of fiscal (green) stimulus and monetary stimulus only to have industrial production be at the same level BEFORE The Great Recession and financial crisis.

A police traffic stop in suburban Chicago turned into federal charges after cops found law enforcement badges and about $800,000 in counterfeit U.S. Savings Bonds in the driver’s car, according to a newly-filed criminal complaint. Robert R. Krilich, 58, is charged with possessing a counterfeit U.S. security intending to defraud. Rosemont police pulled Krilich over on Tuesday afternoon because they didn’t see a license plate on his car, officials said. Things snowballed from there. First, Krilich told the officers that he just picked up his car from O’Hare after returning from Las Vegas, and he believed someone stole his plates...

In a new twist in the investigation into the Biden crime family’s shady foreign business dealings, a former Obama official has come forward alleging he has evidence the then-Vice President Joe Biden was involved in a “kickback scheme” with his son Hunter Biden’s overseas business dealings. The unlikely source will add new weight to the investigation and further legitimize the claims that Joe Biden is a criminal. Mike McCormick, who served in the Obama White House as a stenographer for 15 years, said the FBI completely ignored him when he offered to testify under oath before the federal grand jury...

https://www.wsj.com/market-data/quotes/bond/BX/TMUBMUSD01M/ Ruth Roh

BlackRock Inc. on Tuesday fetched prices of about 85 cents to 90 cents on the dollar for the first batch of assets sold out of $114 billion seized by regulators last month after the failures of Silicon Valley Bank and Signature Bank. The first list, a roughly $292 million parcel of agency mortgage-backed securities with coupons of about 2.5% to 3%, rolled out before noon Eastern time, according to Empirasign, a platform that tracks trading activity in mortgage bonds and securitized products. “The reality is that the whole point is for BlackRock to get rid of these assets,” said David...