Recovery Lies Hurt Timmy's Chance to Pimp More Debt

Thursday, May 13, 2010 , 0 Comments

Ooopsie, it sucks when your lies work so well that you end up sabotaging your financing attempts, doesn't it, Timmy?

Business Week:

Treasury 30-year yields were near the highest level in a week before a $16 billion auction of the securities and a government report that economists said will show claims for jobless insurance fell last week.

Treasuries dropped yesterday as purchases of European government debt by euro-area central banks reduced the safety appeal of U.S. government securities. Demand shrank when the Treasury sold $24 billion of 10-year notes yesterday.

“I can’t be very bullish on Treasuries,” said Osamu Koizumi, the chief investment officer in Tokyo at Yasuda Asset Management Co., which oversees the equivalent of $5 billion. “The labor market is recovering. The economy is becoming very good.”

Hahahahahaha, yeah, the labor market is recovering.

Still, $16 billion in 30 years? Perhaps Timmy has finally adjusted his medication and gotten real about investor demand.

The Treasury is scheduled to put up $78 billion this week.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.