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Market Tanks after horrific Treasury Auction, Bond yields rising, Powell talking hawkish.

Posted on 11/9/23 at 3:55 pm
Posted by stealing signs
Member since Nov 2023
14 posts
Posted on 11/9/23 at 3:55 pm
CNBC

Tesla down 6% today.

Horrible Treasury Auction + Bond Yields Rising + Hawkish Powell Comments = Trouble.
This post was edited on 11/9/23 at 8:51 pm
Posted by The Baker
This is fine.
Member since Dec 2011
16194 posts
Posted on 11/9/23 at 4:25 pm to
Buy bitcoin
Posted by sjmabry
Texas
Member since Aug 2013
18510 posts
Posted on 11/9/23 at 4:26 pm to
Red turn heads
Posted by Shepherd88
Member since Dec 2013
4601 posts
Posted on 11/9/23 at 4:39 pm to
Wasn’t even down 1% and that is considered “tanking”??
Posted by GEAUXT
Member since Nov 2007
29308 posts
Posted on 11/9/23 at 4:45 pm to
quote:

Market Tanks


Lol no it didn't
Posted by NC_Tigah
Carolinas
Member since Sep 2003
124545 posts
Posted on 11/9/23 at 5:07 pm to
quote:

Market Tanks
quote:

horrific Treasury Action
quote:

stealing signs
2 posts
Your hyperbole will do fine elsewhere. Not so much here.

It was the worst auction in a couple of years though. The follow-up was JP's hawkish FedSpeak. But the market response, down ~1%, was relatively tepid IMO.
This post was edited on 11/9/23 at 5:08 pm
Posted by SloaneRanger
Upper Hurstville
Member since Jan 2014
8032 posts
Posted on 11/9/23 at 5:09 pm to
Who is buying 30 year US debt? Especially when it is clear that the government is just going to inflate it away? What will a dollar really be worth in 30 years?
Posted by Triple Bogey
19th Green
Member since May 2017
6035 posts
Posted on 11/9/23 at 6:04 pm to
quote:

Who is buying 30 year US debt?


Lots of foreign countries/investors love the stability of the 30 year.
Posted by LSUcam7
FL
Member since Sep 2016
7915 posts
Posted on 11/9/23 at 6:44 pm to
30yr treasury rates around 4.75%. Was edging up on 5%.

There’s a lot of pension funds, sovereign wealth funds, etc. that are considering locking in a portion of their required returns through safe assets.

The rest of the shite they’ve piled into (illiquid private allocation, stocks, etc.) carries too much uncertainty to confidently meet obligations. With yields around 0% in last years they were essentially forced.

Plus, IF long term inflation backs down even to 3%.. they’re getting real yield, right?
Posted by TigerDeBaiter
Member since Dec 2010
10274 posts
Posted on 11/9/23 at 9:52 pm to
Wasn’t it due to China not participating? Because of some cyber malware. Whether that’s the real reason or not, of course it would go terrible without the worlds second largest economy bidding. But down less than 1% after 8 straight Green Day’s is hardy crashing. Jeeze
Posted by LSURussian
Member since Feb 2005
127122 posts
Posted on 11/9/23 at 11:21 pm to
What was your previous screen name before you made this new alter to start this thread?
Posted by RidiculousHype
St. George, LA
Member since Sep 2007
10234 posts
Posted on 11/11/23 at 6:13 pm to
This is why you should tune out financial media. They are not your friend or there to help you.

Powell’s speech dropped the market by 0.4%. It was up 2% the next day. Complete non story.
Posted by thelawnwranglers
Member since Sep 2007
38902 posts
Posted on 11/11/23 at 8:05 pm to
quote:

There’s a lot of pension funds, sovereign wealth funds, etc. that are considering locking in a portion of their required returns through safe assets.


How does that work in terms of say mutual fund NAV. I guess it is mark to market for redemptions?
Posted by JJJimmyJimJames
Southern States
Member since May 2020
18496 posts
Posted on 11/12/23 at 9:10 pm to
quote:

Powell’s speech dropped the market by 0.4%. It was up 2% the next day. Complete non story.

all technically indicated too BTW
Posted by StonewallJack
Member since Apr 2008
714 posts
Posted on 11/13/23 at 8:36 am to
The sky is falling!!
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