Monday, October 14, 2019

For The First Time Ever, Greece Issues Negative Yielding Debt

from Silver Doctors:

The former bond market pariah and Eurozone’s most indebted nation has joined the exclusive club of negative-yielding European nations…

from Zero Hedge

As armies of fixed income strategists battle over whether US Treasuries are facing higher or lower yields, Greece has no such qualms and in a historic shift today, the former bond market pariah and Eurozone’s most indebted nation, joined the exclusive club of negative-yielding European nations when bond investors lined up to pay the nation that was at the heart of Europe’s sovereign debt crisis.

Video: Protester Spits in Face of Trump Supporter During VICE Interview

by Paul Joseph Watson, Summit News:

“Oh, nice.”

A video clip shows a protester spitting in the face of a Trump supporter wearing a MAGA hat during a VICE interview.

Footage shows the elderly man talking listening calmly to the interviewer’s question before he is spat at.

“Oh, nice,” comments the man.

10-Year Yield Jumps, Yield Curve Steepens, on Fed’s Plan to Buy $60 Billion a Month, But Only Short-Term Treasury Bills

by Wolf Richter, Wolf Street:

Ending the repo market blowout and un-inverting the yield curve.

Since Fed Chair Jerome Powell’s initial explanation of the Fed’s new plan, and with a big push this morning from the Fed’s announcement of the actual details of the plan, the 10-year Treasury yield has jumped 23 basis points, from 1.52% when he was speaking on Tuesday to 1.75% at the moment. And the yield curve has steepened and is getting close to un-inverting. Here is what happened.

Two Investment Banks Eligible for Today’s Fed Loans Got Over $2 Trillion from the NY Fed in the Last Crisis

by Pam Martens and Russ Martens, Wall St On Parade:

It’s long past the time for the U.S. Congress to ask the overarching question: is the New York Fed’s massive loan program to Wall Street firms even legal? And was it legal from 2007 to 2010 during the financial collapse on Wall Street?

The Federal Reserve system was created in 1913 with a Discount Window that was to be the lender-of-last resort to deposit-taking banks to prevent panics and bank runs from bringing down the U.S. banking system. To this day, only deposit-taking institutions are allowed to borrow at the Fed’s Discount Window.

RAID AGAIN IN GOLD AND SILVER: GOLD DOWN $12.90 TO 1485.00

by Harvey Organ, Harvey Organ Blog:

RAID AGAIN IN GOLD AND SILVER: GOLD DOWN $12.90 TO 1485.00//SILVER DOWN 6 CENTS TI $17.50//SUPPOSED PARTIAL TRADE DEAL WITH CHINA IMPETUS FOR GOLD’S DROP//COMEX DATA COMPLETE//CURRENCY AND CLOSING BOURSES PROVIDED

GOLD:$1497.90 DOWN $12.90(COMEX TO COMEX CLOSING

Silver:17.50 DOWN 6 CENTS (COMEX TO COMEX CLOSING)

Market Report: Gold in doldrums at $1500

by Alasdair Macleod, GoldMoney:

Gold and silver traded in a narrow range this week, with gold still stuck around the $1500 mark. Turnover in silver dropped off as volatility declined. By early morning trading European time today, gold had declined $5 to $1499, and silver had gained 12 cents to $17.67.

Tip of the Iceberg: Emergency Repos Stretch to 2020 Q2

by Mish Shedlock, The Maven:

Emergency Fed actions for the end of 3nd Quarter 2019 now stretch to the second quarter of 2020.

Fed Announces $60 Billion a Month in Repos