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>>95982 pb Gruesome 2-Year Auction As Markets Start To Freak Out About Tigher Fed
Solid 5Y Auction Stops Through After Ugly, Tailing 2Y Sale Earlier
In the aftermath of the ugly 2Y auction at 1130am, moments ago the Treasury followed up with its second coupon auction of the day when it sold $61 billion in 5Y notes. And unlike the "gruesome" tailing 2Y sale, this time demand was far more solid.
Printing at a high yield of 0.990%, the auction stopped through the When Issued 0.994% by 0.4bps, even if it too was the highest yield since February 2020 and decidedly above last month's 0.831% now that the Fed's tapering is officially in play. The Bid to Cover came in at 2.37, which unlike the near record plunge in the 2Y BTC was actually a modest improvement to last month's 2.35, and also printed right on top of the six-auction average. The Internals were soggier, with Indirects taking down just 54.3%, below the recent average of 59.8%, and the lowest since March 2020 when foreign buyers took down just 52.1%. And with Directs taking down 20.2% higher than the 17.1% recent average, Dealers were left holding 25.5%, or the most since February. cap #2 are FRB Primary Dealers
Overall, compared to today's 2Y debacle, the 5Y auction was a decidedly stronger appearance, if leaving a bit to be desired.
https://www.zerohedge.com/markets/solid-5y-auction-stops-through-after-ugly-tailing-2y-sale-earlier
right at or around Nixon during Watergate levels.
sounds similar...have a coupla 'impacts' on that side over the years.
gonna take a break for a bit..get the weight off it
>>95948 pb Boston Fed President Eric Rosengren To Retire After Ethics Issue
Rob Kaplan to retire as Dallas Fed president after controversy over financial disclosures
Boston Federal Reserve president Eric Rosengren also announced his retirement on Monday.
Rob Kaplan is retiring as president and CEO of The Federal Reserve Bank of Dallas after financial disclosures showed he was trading stocks last year while voting on critical monetary policy for the U.S. during the pandemic.
His announcement follows Boston Federal Reserve President Eric Rosengren’s announcement earlier today that he was retiring early because he qualified for a kidney transplant. He originally planned to retire in June 2022 when he hit the mandatory retirement age for bank presidents of 65. Both Fed officials, as well as nine others, had their 2020 financial stock-trading activities publicized in a September article from the Wall Street Journal. After questions about the ethics of the trades, both Fed presidents announced they would sell all their individual stock holdings by Sept. 30. While the investments are permitted under the Fed’s rules, Kaplan, 64, said he didn’t want his financial disclosures to distract from the country’s economic recovery process.
“Unfortunately, the recent focus on my financial disclosure risks becoming a distraction to the Federal Reserve’s execution of that vital work,” Kaplan said in a statement. “For that reason, I have decided to retire as President and CEO of the Federal Reserve Bank of Dallas.”
Kaplan’s financial transactions, showing millions of dollars in trades in 2020, stood out from the other Fed presidents’ financial profiles, which were more modest. Kaplan had 27 stock, fund or alternative asset holdings valued at over $1 million each, including Apple, Alibaba, Amazon, Facebook, Google and Tesla. He also had 22 buying or selling transactions valued at over $1 million each.
Rosengren’s financial disclosures showed stakes in four separate real estate investment trusts and disclosed multiple purchases and sales in those and other securities last year.
Federal Reserve Bank presidents are subject to mandatory retirement at 65 years of age unless they’re appointed after the age of 55, in which case they can serve up to 10 years before having to retire. Since Kaplan was appointed in 2015 at age 58, he could have served until 2025.
A former Goldman Sachs executive who considered himself a centrist on monetary policy, Kaplan’s retirement will be effective Oct. 8. He served for six years and was the 13th leader of the Dallas Fed. Before joining the Fed, Kaplan spent 23 years at Goldman Sachs and taught at Harvard Business School. At Goldman Sachs, he became a partner in 1990 and went on to become vice chairman and then senior director of the firm.
At the 1,200-employee Dallas Fed, he heads a district that includes Texas, northern Louisiana and southern New Mexico.
https://www.dallasnews.com/business/banking/2021/09/27/rob-kaplan-to-retire-as-dallas-fed-president-after-controversy-over-financial-disclosures/
California Makes Vote-by-Mail Permanent
Democrat Governor Gavin Newsom announced that he officially gave his signature to a new law which has now made voting-by-mail permanent in all future California elections.
Gov. Gavin Newsom’s signature Monday on Assembly Bill 37 makes California the eighth state in the nation with a law on the books requiring every voter to be mailed a ballot. The new law is part of an evolution of voting in the state over the last two decades, an effort to provide voters more options for when and where to cast their ballots. “Data shows that sending everyone a ballot in the mail provides voters access. And when voters get ballots in the mail, they vote,” Assemblyman Marc Berman (D-Palo Alto), the bill’s author, said during a Senate committee hearing in July.
The law takes effect in January and will require ballots to be mailed to all voters for statewide elections in June and November. AB 37 also applies to local elections, potentially improving turnout in community contests but also increasing costs, given that vote-by-mail ballots are provided with prepaid postage.
https://americanactionnews.com/government/2021/09/27/california-makes-vote-by-mail-permanent/
https://twitter.com/GavinNewsom/status/1442573769906688001
done voting for anything in this state and country
Not until this system is purged
'Feexing' it ain't gonna werk
Total throw away and replace needed.
>>95784 pb
If dis is Nancy...leaving NAS North Island nao wif a leetle fren to let her know she is being watched-see below for ANON C-17
BOXER46 USAF C-40C departing NAS North Island after an overnight-inbound from San Francisco Int'l yesterday
>>96023 pb
earlier a C-5 Galaxy and nao a C-17 on ground at NAS North Island as ANON
ANON USAF C-17 Globemaster on ground at NAS North Island and being spoofed heavily after a ground stop-inbound from JB Lewis-McChord earlier
North Korea fires what appears to be ballistic missile: Japan
North Korea on Tuesday fired what appeared to be a ballistic missile in the second launch this month, the Japanese government said. South Korea's military said North Korea fired an unidentified projectile into the sea off its east coast. The launch came after North Korea fired two ballistic missiles into waters within Japan's exclusive economic zone on Sept. 15 in the first test firing of such weapons in nearly six months.
According to Japan's analysis, the two missiles reached an altitude of about 50 kilometers and flew around 750 km before falling in waters off the Noto Peninsula. Their launch raised fresh alarm in Japan as it prepares to see a new government following the leadership election of its biggest ruling party on Wednesday. North Korea has said the Sept. 15 launch was a test of a "railway-borne missile system" and that the objective was to strike a target area 800 km off its east coast.
https://english.kyodonews.net/news/2021/09/bc54f1f56859-urgent-n-korea-fires-what-appears-to-be-ballistic-missile-japan.html
BOXER46 USAF C-40C on final approach for Boeing Field, Seattle from NAS North Island depart
Just behind that (and slowed down quite a bit as BOXER46 entered the area) is BOE469 KC-46 Pegasus Boeing test flight heading back to Boeing Field
This AC should have arrived before BOXER46 but was slowed at about 11k ft and ATC allowed BOXER46 to arrive before
These tanker AC's (767 based) will eventually replace the DC-10s and some of the 707-based KC-135s.