Can you hear me now? Yesterday Verizon priced $51 billion worth of bonds at $49 billion. Technically they sold $49 billion of bonds at $49 billion that then traded to be worth $51 billion. That is a lot of profit to those who got good allocations. That is positive for the market. Some “free money” goes… Read More
Is a 3% Yield the Turning Point for the Treasury Market?
by • September 5, 2013
How Much Has the Fed Lost? We spent much of yesterday looking at the potential for 3% on the 10-year Treasury and the Fed’s treasury position. For those of you who asked the Fed had lost $105 billion on the $1.6 trillion on the bonds they owned in early March. Since the 10 -ear was… Read More