tag:blogger.com,1999:blog-34323687.post4727474159302749459..comments2024-03-19T03:05:57.184+00:00Comments on Macro Man: Bad day for Goldfinger, but worse for Mr BondMacro Manhttp://www.blogger.com/profile/12324967552369915949noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-34323687.post-46274942129066753422010-12-10T02:21:48.764+00:002010-12-10T02:21:48.764+00:00Superb post. I will be watching OIS-10Y more clos...Superb post. I will be watching OIS-10Y more closely from now on.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-65761458960793415972010-12-09T15:50:26.069+00:002010-12-09T15:50:26.069+00:00TMM, not only do they write a free blog with occas...TMM, not only do they write a free blog with occasional intelligent commentary but they also give out free cixs to their readers/competitors who can't be arsed to do a modicum of work.......Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-37284523813772210582010-12-09T14:33:35.029+00:002010-12-09T14:33:35.029+00:00Again, fantastic blog! would be great to see the C...Again, fantastic blog! would be great to see the CIX formulas! thksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-9779896392785192142010-12-08T22:37:07.921+00:002010-12-08T22:37:07.921+00:00Agreed in general. Most punters only notice bonds ...Agreed in general. Most punters only notice bonds when they blow up and granny calls about her munis and then they all start running around shouting "Don't Panic.. Don't Panic.." <br /><br />This is not The End of Treasuries As We Know Them, not a sign of Imminent US Bankruptcy... blah blah blah. What this is, chaps, is a rather tasty correction of the QE2 "mini-bubble" in bonds and a hasty retreat by leveraged players (Cough: Hedge funds) who aren't generally fixed income participants and obviously they "don't like it up 'em, Captain Mainwaring" when the market turns.<br /><br />LB has fancied a nibble on TIPs but isn't yet ready to lose multiple digits in USTs until we see what tomorrow's auction looks like. Other dirty ducks (mini Black Swans) include what China might or might not do this week, and a PPI number on Tuesday morning that might be a shade over-heated- that could send the TIPs spread soaring... (he said, hopefully) and provide a nice entry point into the long end, before the CPI restores order.<br /><br />"Do be careful, 007..." <br />"Kevlar gloves, Q"Leftbacknoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-1360651003957164992010-12-08T19:16:14.342+00:002010-12-08T19:16:14.342+00:00great post as always, but for someone who's no...great post as always, but for someone who's not a MBS expert can anyone help out and explain "The million dollar question is whether Fannie 4s breaking below par will trigger a new round of convexity paying or not"?<br /><br />it does seem hard to imagine bunds and USTs selling off this hard sustainably, especially with commodities racing. there's got to be some place to park safety cash. either we are seeing a real shift in risk sentiment to a more permanent risk-on phase and rotation out of bonds into stocks or this is a major overreactionAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-5178659866892779272010-12-08T17:36:51.629+00:002010-12-08T17:36:51.629+00:00EU interbank lending indices are reminiscent of ol...EU interbank lending indices are reminiscent of old Soviet fixed price levels. The price was constant but availability was certainly not guaranteed. Foreign visitors would often be surprised to find government-run stores barren, the shelves bereft of goods.<br /><br />Suspicious selling above $30 in silver seems to coincide with the well established pattern of monetary authorities "providing liquidity" for year end. Buying time until the next fire breaks out in the Eurozone. Or are we to believe once more that the crisis has been contained?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-7401024302336418432010-12-08T14:48:02.579+00:002010-12-08T14:48:02.579+00:00I cannot tell you how much I appreciate this blog....I cannot tell you how much I appreciate this blog. So timely and reasoned.Marshall Junghttps://www.blogger.com/profile/01494663748081037987noreply@blogger.com