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Jorma last won the day on May 10

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About Jorma

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    Professor of Stock Proctology
  • Birthday 06/28/1951

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  1. Munchin says he is putting the unspent CARES Act money back in the Treasury General Account at the end of the year.. Those are the exact words I read. But where are they now? Do you know Lee? Do agencies have their own segregated accounts? So is the appx. $500 billion 'returned' going to put the Treasury General Account at $2TN? Why and WTF for? Also, why borrow another $150bn by Dec.1? Inertia?
  2. The markets approve of the Feds merger with the Treasury. Which is understandable.
  3. The engines are just idling right now. As long as there isn't violence I can't see assets deflating.
  4. I think they were hoping for a better flight path for the market with the announcement the 737 MaxKludge is back in the sky.
  5. What if TNX heads towards 10 again. The talk is out there I posted an article the other day. I suppose your right. The very serious people are saying the Democrats should take a small deal now. Which would be late Dec.
  6. Let's just hope the Fed doesn't do their QE increase before it is absolutely certain that Trump will leave the White House. I'm not strongly confident they will wait. Hopefull? Sort of but bankers and fascists tend to come together as a general rule. I had no hope our press would ask Powell over the last few months if it would be business as usual if the elections outcome was bizarre and unusual. Nobody thought to ask. Possibly the Fed itself hasn't considered it. Which is no less a comforting thought than if they have thought of it and have decided it will be gung ho no matter what.
  7. Dr Stool. Do you ever have nightmares that when you finally find a cure for bearishness the bottom falls out?
  8. I assume the PD's are still sitting on very large holdings of Treasury coupons. Why? By choice? Then too why isn't the market clamoring for what is still the best paper around. Why would anyone buy Euro soverign debt at zero or below when you can get Treasuries with a positive stated return?
  9. The Federal Reserve's next Federal Open Market Committee meeting is mid-Dec. Standard Chartered anal cysts say the Fed could ease policy again prior to then. Due to the huge surge in COVID-19 infections the stumbling over further stimulus in a now 'lame duck' Congress Stan Chart anal cysts say if the Fed considers it necessary to ease its likely to do so in coming weeks, ahead of the FOMC meeting. Not to wait until the meeting. Likely policy action includes: increase monthly US Treasury purchases by about 50% (i
  10. 10 year Treasury Note futures. Those notes are TNX, quoted in the rate not the price of the Notes as ZN is, but they don't trade overnight. The Big One is interest rates rising. They have been falling for 38 years, give or take. The new paradigm would have it that rates will remain low forever. I am agnostic. Could be. https://fred.stlouisfed.org/series/DGS10 Click Max.
  11. Meanwhile ZN is still heading down this AM. I don't think the Big One is going to happen in my lifetime but the monthly chart does give one pause.
  12. Wall Street is certain that they can inflate this mofo, which is lots and lots of assets in all sorts of classes. no matter who wins. Well that's what they have to project.
  13. It's more important to save oil than Treasury Notes. Okee Dokee.
  14. Some weird shenanigan's on FB and AMZN near the close yesterday.
  15. Has there been any activity at the repo window? The dollar is soaring why exactly? People need dollars? Who? The deflation in the commercial RE market has to show up somewhere eventually. Where? And let's not forget the deflation of oil, and coal.
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