30Yr Bond (weekly info)
new high 140.312
trend=up
high= 140.312
rev= 128.215; mid= 134.219
The 30yr bond move higher might be out of steam. This week is forming a bearish harami. It's above all SMA's. It's failing its 0.0% retrace.
3 Mth vs Overnight Libor (daily info)
new high 0.170
trend=up
high= 0.170
rev= 0.161; mid= 0.166
The spread finally started reflecting reality. The EU banks only trust the ECB because they won't borrow from each other.
42 comments:
Greek 10-Year Yield Climbs to Record 18.54% on Concern Bailout Will Fail - Bloomberg
"Markets are doubting whether the second bailout package will ever be ratified by all the euro-region member states,” said Marius Daheim, a senior fixed-income strategist at Bayerische Landesbank in Munich. “There’s not much that can worsen the situation from where we are now.”
Greek 10-year bond yields climbed 50 basis points to 18.39 at 11:07 a.m. in London, after earlier reaching a euro-era record 18.54 percent. The 6.25 percent security due in June 2020 fell 1.29, or 12.90 euros per 1,000-euro ($1,441) face amount, to 48.835. The two-year yield climbed 41 basis points to 44.44 percent, extending a 5.6 percentage point increase over the past two days. It reached a record 44.92 percent today.
Finland’s Finance Minister Jutta Urpilainen said the nation won’t give in to demands to abandon the deal it struck with Greece over collateral in exchange for bailout loan guarantees.
‘No Surprise’
“If the Finnish and Greek deal isn’t acceptable to others, it’s now up to all euro members to together build a model that all find acceptable,” Urpilainen wrote today in an e-mailed statement. The collateral demand was “no surprise,” she said, reiterating Finland will keep its requirement for collateral.
"The days of dreaming about long days playing golf on a green course and taking luxurious cruises around the world are appearing more and more like a foggy memory for those in the middle class planning for retirement. As Wall Street bankers and hedge fund managers rob the public blind, the mission statement sold to baby boomers is starting to become a large bait and switch catchy enough to make it on a Hallmark card. For decades Wall Street begged and lured the public in either directly or through pension funds into their web of easy money. Save $100 a month and you’ll retire a millionaire! As it turns out, the golden parachute was only available ...."
http://www.mybudget360.com/middle-class-retirement-now-largely-postcard-fantasy-wall-street-sold-retirement-dream-bailed-out-golden-parachute/
AAIP
Not many golden parachutes to go around...
Plenty of golden showers still to pass around though...
---
You know... It's ironic though... 20 years I would have found myself 'aspiring' to a lifestyle of Fuzzy & Company...
Nowadays - I pretty much 'feel sorry' for the lot of them...
"Women, Children, Red Indians, & Wall Streeters who Blog" first...
http://www.youtube.com/watch?v=zisjRgcuL9k&feature=fvsr
CV's 2011 NFL Preseason Picks
2011 YTD Picks record: 9-3
2011 (unit pick) total: (+2.5) units
--- Thursday 8/25 games ---
---
& so starts the part of the pre-season that you end up getting a lot of 'cross town' rivalries (or in any case - the 'geographically efficient' part of the schedule)... Some of what I just said won't make any sense... Carolina @ Cincy???
you say... Well... Bottom line is AS MANY AS POSSIBLE games are kept fairly close... The rest have to make do...
Carolina at Cincinnati (-3)
Nothing much worth betting here... I'm still not sold on Cam Newton (though I'm sure he'll produce his share of 'highlights' for the reel - which - the media will fawn over & run replays on 24 hours a day)...
The hidden agenda here is that sports media is no different than regular media... IT'S LIBERAL... In football, it's peppered with African American ex-NFL jocks (like Keyshawn Johnson, Tom Jackson, Chris Carter, Michael Strahan, & the
list goes on)... So here's what you get...
Every time an AA QB comes into the league, he gets the spotlight (next up - Terrelle Pryor)... The other thing is that everytime an ex-All Pro (like Plaxico Burress) gets released from prison... He gets the spotlight (as if to PROVE to everyone that catching or throwing touchdown passes exonerates them from crimes in society)... Last year with Michael Vick, it was totally over the top (AA QB... meet former inmate)...
Now... N-O-T-H-I-N-G is ever said about how valuable any of these guys are to their respective teams... Vick spent so much time running around the field trying to get his dollars up (he was only being paid a million dollars on last years
one year contract), that he neglected his body, & found himself USELESS in the post season (when it counted)... Worse - it caused PHILLY to trade what would have been a serviceable franchise QB (Kevin Kolb) to Arizona... WORSE... Then -
in the offseason, they have to go through all this wasteful spending on free agents because they THINK they have something...
An intelligent franchise would have addressed needs (like offensive line - to protect their investment & a corps of linebackers - who they're going to need to cover tight ends 'one on one' when they face NO & GB in the playoffs)...
C'est la vie... & what does this have to do with Cam Newton??? Nothing & everything... Cam Newton is basically a more elegant version of Terelle Pryor... The main difference is that Pryor 'got caught' while Newton didn't... Maybe Newton
has a little better smile too... I won't forget a couple years ago when Ohio State was playing Navy, Pryor comes out with "Mike Vick" on his eye black patches... Pretty much tells you what you need to know... Anyway - Newton had his hand
in every cookie jar going all the way back to the University of Florida & junior college days... The NCAA just decided to look the other way... Some people get to be Reggie Bush...
Like I said... Newton will undoubtedly make some highlight reels from time to time... & Tom Jackson will use those moments to try an spin "Martin Luther King" into the whole mix... But what you WON'T see is that the NFL is a "pocket
passer" league... So - come next winter... Tom Brady, Drew Brees, Aaron Rodgers, Peyton Manning, Phil Rivers, Sam Bradford, Mark Sanchez, Ben Rothleisberger, Joe Flacco, Matt Ryan (& yes - maybe even Kevin Kolb) will still be playing
football... While Vick & Newton will be doing their "chip & dip" commercials...
...& then there's simple ol Josh Freeman down in Tampa Bay (who will probably lead his team to the playoffs & for all intents & purposes has never had his hand in any cookie jars)... Not sure if he'll be getting any calls from Obama...
---later---
Cleveland at Philadelphia (-3)
Washington at Baltimore (-3)
Future TSA: Track All 'Daily Travels To Work, Grocery Stores & Social Events'
http://www.networkworld.com/community/print/78049
in the meantime, the Stasi is being built up, to keep a lid on those that are awakening to the Rip-Off..
~~
cv--
while I think I understand, don't waste any effort 'feeling sorry' for them--at best, they are willfully compliant with the Theft..
ibid.
as it grows..
US Government Asset Seizures On The Rise
The Wall Street Journal published a disturbing article earlier this week entitled “Federal Asset Seizures Rise, Netting Innocent With Guilty.”
You can already imagine the crux of the article.
In the United States, there are hundreds of regulations which authorize dozens federal agencies to confiscate private property– homes, cars, bank accounts, gold, company shares, and even personal effects.
Ironically, most Americans still think that they live in a country where you’re innocent until proven guilty. Nothing could be further from the truth, and it’s just another clear example of how the US Constitution has become a worthless piece of toilet paper for the federal government.
The Fifth Amendment states that “No person shall be… deprived of life, liberty, or property, without due process of law.” Tell that James Lieto, a New York businessman who was relieved of $392,000 when the armored car company used by his check-cashing firm was taken down by the FBI.
Lieto was innocent and not implicated in any wrongdoing, but the FBI took his money regardless as it just happened to be in the wrong place at the wrong time.
Last October, another businessman named Raul Stio was suspected of wrongdoing by the Treasury Department. The government seized over $150,000 from his account, yet in the 10-months that followed, Stio has still not been charged with a crime.
According to Justice Department statistics, the total value of confiscated property exceeded $2.5 billion in 2010, more than double from five years ago. The average take per case? $166,000… and the vast majority of cases were non-criminal..."
http://www.zerohedge.com/news/guest-post-us-government-asset-seizures-rise
ibid.
"As Wall Street bankers and hedge fund managers rob the public blind"
yawn
the average hedge fund is down for the year
417k
"Unexpected"...not.
Cleveland at Philadelphia (-3)
OK... So here's a prop bet...
In WEEK 1 of the NFL (I mean 'real' week 1 of regular season)...
I'll take Coly McCoy to rake in more fantasy points than Mike Vick...
Any takers? (& what odds are you giving me)?
I should have mae that bet AFTER this game right here because undoubtedly the Eagles pose some problems matched up directly against the Browns offense...
Nevertheless, there's ALWAYS something to see (if you know what you're looking for)... CV has been saying ALL PRE-SEASON that while the Eagles will probably win the NFC East & go to the playoffs, that its the LACK of things they addressed going in to the preseason that will probably make them a 'one & out' team after they get there...
This is a perfect game to either see that at work (or not)... I'll explain...
Nnamdi Asamogha ERASES one side of the field (& Asante Samuel, while greedy & too much of a risk taker, is 'capable' on the other side)... They also have a vastly upgraded pass rush... To put it into English for you...
3rd & longs are going to be tough for Eagles opponents this year... So here's what happens:
- Teams who rely on 2 receivers & a QB that can't read defenses are going to struggle...
- Teams that have smart/mobile QB's who are not afraid to throw safe passes to tight ends & backs will fare better...
Colt McCoy is kind of in that latter category... He's young, so his 'pride' is not at stake yet... He's getting smarter & limiting mistakes, & he's mobile...
If Colt McCoy can manage to move the chains (forget the score - just look for 1st downs), then Brees & Rodgers will tear the Eagles up... What helps McCoy here is that there are no real solid standout WR's on the Browns roster (so you don't have some selfish diva calling for the ball), & furthermore the value of Nnamdi Asamogha goes down because basically TWSWB coul probably drop a blanket on any receiver the Browns have in camp...
I'm going to say though, that the Eagles rebound off their embarassing loss to the Steelers... I won't be laying any pins on this though...
I wouldn't be surprised to see Ronnie Brown handle a few more touches here (which would be much to the dismay of any potential LeSean McCoy fantasy owners, as it may project to a 60-40 workshare program, as well as 'hawked' red zone opportunities...
Washington at Baltimore (-3)
Frankly - I gotta say that as a Ravens fan that I'm disappointed in the performance on the field thus far...
I shouldn't be... Lee Evans just came into camp before last game, & basically the 1st team defense (T-sizzle & Ray Ray) haven't been on the field... Neither has Haloti Ngata & it takes awhile for Terrence Cody to get into shape 9replacing Kelly Gregg...
So on offense, they're still trying to figure out 'safe' passes for Flacco (which used to go to derrick Mason & Todd Heap) & the 2nd team defense has been getting an audition...
Practically the whole Redskins team is on audition (even with the two QB's Grossman & Beck - who Shanahan has said he won't even make a final decision on until days before week 1 vs. the Giants)...
Which probably means that we'll see a healthy dose of Tim Hightower here...
Hightower has worked himself onto the radar screens of RB3's in 'deep' fantasy leagues... But it still doesn't console you that you have to hold your nose while drafting him in round 12 (while dreaming of fumbles & turf toes)...
speaking of "RayRay", why isn't that MoFo in Jail?
ibid.
Forgot to say that another pickup by the Ravens this past week was LT Bryant McKinnie (from the Vikes)...
We'll have to see...
I'd kind of thought that McKinnie was getting kind of old... But the move does have some merit...
The Ravens have sorely been lacking at the left tackle spot... If McKinnie fits, they could move Michael Oher back to right tackle (where he's more suited)...
& with McKinnie's experience, hopefully he'll avoid the endless 'false starts' that O'Neill Cousins was famous for...
McKinnie also played many years together with Ravens center Matt Birk...
Clearly though... Center & LT are positions the Ravens need to draft for next year...
@AAIP
Wasn't Ray Ray man... Just the bad seeds he hung with in those days...
Ray is TRULY a man who has put a bad past behind him...
If Vick & Pryor are where Ray Ray is now (in 12 years)... I'll take back all I've said...
Uncle Warren saves the day. God forbid we be allowed to open down.
Welcome to the Machine
A Working Man's Guide to MERS and the Shadow
Banking Systemi
By: Vermont Trotter
Copyright 2010 All Rights Reserved
A story is breaking upon the nation as I write this. It is a story I have been forced to live for the last year and a half. In that year and a half I have come to learn a lot of confusing truths about the way the money in this world really works. The mainstream media is talking more and more about the foreclosure scandal and at the heart of it all is MERS. Mortgage Electronic Registry
Service. It's the biggest littlest company you have never heard of before and in the thirteen years of its existence, it has utterly destroyed the real property ownership records system in every county in the United States.
The purpose of The Working Joe's Guide to MERS & Mortgage Banking is to provide the every day average Joe & Joie the information they need to understand this tremendous scandal unfolding ahead. More importantly, use this information to arm yourself with truth so you can cry BULLSHITTE when the talking heads try to spin the story for you. And they will.
Be warned. The story has so many facets that to sit down and take it from one end to the other leaves one a bit befuddled. Smoke comes out of your ears, if you know what I mean. Thinking and operating in the world of MERS is a testament to the infinite adaptability of the human condition. I recall when I first came to the realization of the Meaning of MERS and the smoke started to pour from my ears. It was late at night and I had been researching what had happened to me about a week earlier.
I had just invoked the “Produce the Note” defense in court and had won a stay on the sale in the foreclosure of my house. After the euphoria wore off, I really started to wonder what had just happened. I was geeking out trying to understand. It was late at night. I had been finding and reading court cases for about a week, the lights were out except for the screen, the kids were all asleep, and I sat bolt upright in my chair when the realization struck. “My God, they can't deliver clear title~!” I blinked into the darkness for about five minutes as the full impact of that washed over me. That was almost a year ago and I have managed to withstand the MERS monster's siege upon my castle since then (not to worry, still plenty of food & water).
...
http://whatreallyhappened.com/WRHARTICLES/Welcome%20to%20the%20Machine.htm
cv--
I'll hear that..(I, surely, wasn't there), and, if you don't know (otherwise), then, it, probably, isn't so..~
AAIP
Jennifer
BAC went to Uncle Warren and kissed the ring. BAC couldn't go to the market to try and raise additional capital. So all of the BS BAC was spewing about not needing to raise funds was crap.
Andy T
1186 met. Will it hold?
How dare you AmenRa
this is not a Lehman moment!
It is not!
Simon Hobbitt
You're right. It's worse.
1186 H&S achieved...then reveresed at 1188...
weird.
whats up with the DAX
ben22
I think the second Greece bailout is DOA. Plus Finland is sticking to its desire for collateral if they are to help Greece.
Collateral?
Maybe they can take the Parthenon & turn it into some kind of Grace Mansion & sell 'pissing Aristotle' statues to the tourists who visit...
Actually - someone is probably doing it already... & I'm pretty convinced there are some blogs around where they publish the travelogues of those visits...
CV,
what do you think about Ryan Matthews?
@ben22 (11:36)
Made of glass (until proven otherwise)... A 'poor man's' Frank Gore...
&/or
He'll have one good season like Cadillac Williams did then spend half the rest of his days in the training room...
He'll make the 'all ambulatory ward' team...
speaking of ward
dude, did you see the little jig Hines Ward did after he caught that TD the other night?
is that what the deal is now, these guys do dancing with the stars in the offseason and then when they score they do the friggen paso doble?
I say bring back the icky shuffle
I 'invented' dwts
I say bring back Landry and Lombardi.
"Bo knows banking"
http://sports.yahoo.com/nfl/blog/shutdown_corner/post/Bo-knows-what-Bo-Jackson-8217-s-surprising-pos?urn=nfl-wp5831
No... not that 'poser' B.O. (the REAL 'Bo')...
@AT,
Neely says there is potential for 250 point drop now on S&P?
you think?
that's deep
ben22
Wall Street may have trouble dealing with a Bernanke disappointment and a pissed off Irene.
s&p 500 will trade with an 800 handle on it...
so, yeah 250pt drop coming...
The "Fuzzy One" slams BofA last few days...then talks about how warren b. "bailed" out BoA with a measly 5BN.
Wonder if he sees the paradox of thought?
ben22
10yr 9/11/11
Full moon 9/12/11
Danger?
Andy T
I still see it as BAC couldn't go to the market (aka locked out) and had to perform Buffett's "kiss the ring" ceremony.
http://www.bloomberg.com/news/2011-08-25/hoenig-says-fed-should-focus-on-fixing-u-s-finances-instead-of-economy.html
When asked whether he would support action like that of “Operation Twist,” the 1961 initiative by the central bank and President John F. Kennedy’s administration to spur growth by lowering long-term rates and keeping short-term ones unchanged, Hoenig told Bloomberg Television, “I don’t see any reason” why it would work.
“What’s the fundamental problem?” Hoenig said. “Is the fundamental problem a yield curve issue? Or is the fundamental problem that the United States and world have too much debt?”
“Would Operation Twist help solve the problem?” he said. “If the answer is yes, go for it. If the answer is no, let’s not.”
Ra,
I had checked my moon chart in a bit, yeah....
AT,
to be clear if you didn't get the udpate, he's talking 250 points in the next 4 weeks
buckle up if so, that puts us at 909 on cash by the end of September after today's close if it starts tomorrow
Ra,
lower rates is DOA because people are no machines that respond to levers simply being pulled, let me share a story with you:
client trying to sell lower/mid model home here in DE
was on mkt few months ago for 328K, moved down to 285k recently, getting offers but nobody in that price range can buy it. Why? Can't get a mortgage unless you come to the table with about 100k in cash. How's that?...problem is that the bank is basing the 80/20 loan to equity not on the price of his home but on average comps in the area, which near his location average sales recently have been 200k. So sure, you can get a mortgage, pay the $85k and then another $40k on top so you have 80/20 based on the 200k average comp. Buyers in that price range don't have the $125k liquid cash of course nor is it likely they'd have equity to roll from another home to make it work.
Think that through, the Bernank lowers fed funds rate to 0% how long ago in order to attract borrowers far and wide, later after that doesn't work he tells you that QE1 and 2 will spur lending, they just needed to do a little more is all....
this is the Fed that is totally in control of things yes?
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