Recovery Lies Hurt Timmy's Chance to Pimp More Debt
Ooopsie, it sucks when your lies work so well that you end up sabotaging your financing attempts, doesn't it, Timmy?
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.