tyb
AF2 VIP 98-0002 on final descent to Palm Beach Int'l from JBA-making the turn for final approach
LOBO474 USMC C-560 from MCAS Cherry Point to College Station, Tx-Easterwood Airport
is it still fucky for you today?
hopefully it gets sorted. Seems everything else is ok but that, on this end.
VP been waiting for years to tell the Saudi power structure to fuck off. Not agreeing to moar cuts is the death knell for OPEC+
bueno?
Treasury Rally Lifts $22 Billion ETF Most Since 2010 Flash Crash
Some background on how we arrived at this point and why.
The fear-driven rush into Treasuries pushed one of the world’s most-popular bond ETFs to the biggest rally since the 2010 flash crash in stocks. BlackRock Inc.’s $22 billion iShares 20+ Year Treasury Bond fund, ticker TLT, rallied as much as 6.4% on Friday as investors plowed into U.S. debt. That was the fund’s biggest jump since May 6, 2010, when the Dow Jones Industrial Average tumbled nearly 1,000 points in a matter of minutes.
The ESF quickly stepped in at that point and that drop was erased as quickly as it habbened-for moar on the HFT role in this-and other 'incidents' please see here:
http://www.nanex.net/NxResearch/ResearchPage/3/
There are 23 pages of Algorthymically managed 'events' that caused spikes or drops in corresponding markets (equity, commodity, bonds, currency-you name it).
Rates on 10-year Treasuries plummeted to record lows, while risk assets shuddered. With yields below 1% on every tenor except the 30-year bond. Yields on benchmark U.S. debt slid as low as 0.66% on Friday, while rates on 30-year bonds fell to an all-time low of 1.20%. While liquidity concerns reigned in cash markets, volume in TLT spiked. Trading was over 440% greater than the fund’s 20-day average turnover as of 2:14 p.m. in New York Friday, with nearly 50 million shares changing hands by midday. That compares with an average of 9 million over the past 20 days. The same fear buoying Treasuries is roiling the credit market amid an increasing threat to corporate cash flows. A derivatives index used to hedge against losses surged by the most since at least 2011.
Caught in the carnage is BlackRock’s $15.5 billion iShares iBoxx High Yield Corporate Bond ETF, ticker HYG*-Cap#3, which slumped by the most since January 2016. Meanwhile, Invesco Ltd.’s $4.4 billion Senior Loan ETF dropped by the most since December 2018.
https://www.bloomberg.com//news/articles/2020-03-06/treasury-rally-lifts-22-billion-etf-most-since-2010-flash-crash
See here for 10yr and 30 yr closing price(s)
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://www.marketwatch.com/investing/bond/tmubmusd30y
https://www.marketwatch.com/investing/fund/hyg
*HYG-This is what soared after the $29t stealth bailout that hit towards the end of 2012-see cap#4 for the cumulative affects that this $29t had on out overall markets.
It created a bi-furcation in the HYG and SPY-chart that we are still dealing with.
The remaining Treasury auction schedule is attached as Cap#5 and shows what the Gov't bond/note issuance that remains for Q1 2020. It goes until April23rd.
https://www.treasury.gov/resource-center/data-chart-center/quarterly-refunding/Documents/auctions.pdf
Not only do you have the record low(s) in Treasury Notes/Bonds but you also have a big supply coming on-line starting on Tuesday, March10th with the middle and long end of the curve to be auctioned. These MUST be bought by the Primary Dealers in order to remain 'in status' as one at muh FRB.
https://www.treasury.gov/resource-center/data-chart-center/quarterly-refunding/Documents/auctions.pdf
Can read moar about Primary Dealers here:
https://www.newyorkfed.org/markets/primarydealers
and here
What is a Primary Dealer
https://www.investopedia.com/terms/p/primarydealer.asp
CACTUS3 USMC C-560 west from Stennis Airport LA
extreme fagginess going on. not AC related iykwim
SAM409 G5 south from JBA on descent at spooksville
fuck this noise