Jeez, did the bond vigilantes not like my post? I mean, I can see Bernanke selling the hell out of short term bonds but long term yields spiked as well. Still, the curve is being hammered to 'Bernanke favorable' per the previous post. That means it is gold unfavorable.
I try not to be an angry tin foil hat guy, but this has powerful people's hands all over it it. Sorry, but it does. T bonds being bought and sold and shuffled and monetized all over the place. The age of moral hazard is in full swing.
Edit (3:37) Well, I knew it had something to do with the FOMC minutes and here is Bloomberg with the details... FOMC Saw No Need of New Monetary Easing. I would have thought that the QE3 obsessives would have long since given up, but evidently they were still in the markets to enough of a degree to give a nice post-FOMC knee jerk.
As for the gold stock sector, for better or worse, there is a cut and dry parameter in play there. On the plus side for most markets, these knee jerks can often last a day or so before a world full of casino patrons with the attention span of gnats, goes back about its business.
http://www.biiwii.blogspot.com
http://www.biiwii.com
I try not to be an angry tin foil hat guy, but this has powerful people's hands all over it it. Sorry, but it does. T bonds being bought and sold and shuffled and monetized all over the place. The age of moral hazard is in full swing.
Edit (3:37) Well, I knew it had something to do with the FOMC minutes and here is Bloomberg with the details... FOMC Saw No Need of New Monetary Easing. I would have thought that the QE3 obsessives would have long since given up, but evidently they were still in the markets to enough of a degree to give a nice post-FOMC knee jerk.
As for the gold stock sector, for better or worse, there is a cut and dry parameter in play there. On the plus side for most markets, these knee jerks can often last a day or so before a world full of casino patrons with the attention span of gnats, goes back about its business.
http://www.biiwii.blogspot.com
http://www.biiwii.com
No comments:
Post a Comment