tyb
Treasury yield curve sinks below 1% after oil and coronavirus worries rout stocks
This is all you need to know regarding the markets today. Oil and Debt. The entire Treasury curve is now below Fed Funds. March 18th CME Futures forecast a nother big cut come March 18th-Cap#5. It could end up at .25% at that meeting.
The dollar ended only modestly lower and Gold managed very modest gains, copper and silver were down over 2% as crude collapsed. The algo's crushed the silver trade right on the COMEX (NYMEX) open at 830am EST. Treasury Auctions continue with the short end being pushed out tomorrow and Thursday but has a 10 yr TIPS auction to coincide with the short term.
Moar here: https://www.treasury.gov/resource-center/data-chart-center/quarterly-refunding/Documents/auctions.pdf
A flight to the perceived safety of U.S. Treasurys drove yields deeper toward historic lows and pushed prices sharply higher as a breakdown in talks between major oil exporters sparked a potent decline in oil prices, delivering a shock to investors in assets considered risky, including stocks. The rising number of COVID-19 cases in the U.S. also threatened to hamper consumer demand, the linchpin of the U.S. economy. The 10-year Treasury note yield BX:TMUBMUSD10Y fell 20.8 basis points to 0.501%, down for its 13th consecutive session. The benchmark maturity hit an intraday record low of 0.339% in overnight trading.
The two-year note rate BX:TMUBMUSD02Y fell 14.1 basis points to 0.345%, its lowest since Oct. 2014. The 30-year bond yield BX:TMUBMUSD30Y slipped 27.8 basis points to 0.938%, a record close. Bond prices move in the opposite direction of yields. All three maturities are trading below 1% for the first time in history. The disagreement between the major oil exporters sparked the biggest one-day slump in crude-oil prices since the 1991 Gulf War, and sent global equity markets lower. Safe-haven assets like Treasurys saw sharp bidding, with the longer-term maturities seeing the sharpest rally as energy prices are closely tied to inflation expectations. Rising inflation is anathema to bonds and a rapid decline, such as a drop in crude values, can underpin demand for government paper.
The 10-year break-even rate, expectations for consumer prices as indicated by trading for Treasury inflation-protected securities, fell to its lowest level since the middle of 2009. Policymakers are increasing the amount of liquidity circulating short-term funding markets. The New York Fed announced Monday that it would increase its daily overnight repo operations to at least $150 billion from $100 billion in the first four days of the week.
https://www.marketwatch.com/story/30-year-treasury-yield-tumbles-below-1-after-oil-and-coronavirus-worries-rout-stocks-2020-03-09
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
metals are an entirely different animal. They are so manipulated it's not even funny. Silver especially. Take the gift they are giving everyone in silver. It's all done on the COMEX and very little physical trades hands-one contract 'controls' 5k oz's. There has been a legacy short position on Ag for many decades. Soloman Bro's, Drexel, Bear Stearns, JP Morgan have all played hot potato managing it over the years. It's a little murky as to who had it prior to Soloman.
SAM455 G5 out of JBA west and likely going to Peterson AFB, Colorado Springs
SAM440 G5 out of JBA NW
DISCO01 E-3C Sentry AWACS out of Nellis AFB, LV
been stacking since 1995. Buy and sell gold for cash when it spikes/drops. Never sold one single ounce of silver the entire time
Shut the fuck up
JPMorgan to cut up to 140 jobs in Switzerland
JPMorgan Chase & Co (JPM.N) could eliminate up to 140 jobs in Switzerland in an effort to cut costs, a person familiar with the matter told Reuters on Monday, confirming a report by the Swiss financial news website Finews. Finews said the cuts would mainly affect the Geneva offices, but some positions in Zurich could also be affected.
A spokesman for the bank declined to comment on job cuts. Switzerland remains an important growth market for JPMorgan, and we are committed to providing best-in-class advice and counsel to clients across the country,” he said in an emailed statement.
Over the past year, JPMorgan has shifted a number of jobs to cheaper locations in order to cut costs.
https://www.reuters.com/article/us-jp-morgan-swiss-jobs/jpmorgan-to-cut-up-to-140-jobs-in-switzerland-source-idUSKBN20W2WH
agree, the kind of people who don't like to be told how to do anything.
incorrectly worded, should have said don't like to be told they can't do something regardless of the situation.
nahh you can just exist in the vacuum you find yourself in.
nice work. don't think it will come to that, an emergency act. This drop is not much in the grand scheme of things. All in context