At least it wasnt 94.5.....
There is still no confirmation of a sell off.
we need it to turn around about here and get below 92.8...
there is a very large Pennant still forming.... I'd want to see that break down...
I would have thought we would have some kind of Spike high..... then an aggressive sell off..
I know the "talking heads" are all about this being tied to bonds.. I'd say long term higher borrowing costs are not good.
Russia was talking about buying IMF bonds..... WTF!!! I'd buy german ones first.... or Canadian... maybe brazil needs some bonds.... They are crazy...
What I'm talking about is that there is an interesting dynamic here.... sort of a conundrum if you will..... Stocks down bonds Up......
not Bonds Lower, stocks lower..... by lower on bonds I mean Higher Yields... but that is what the talking heads are saying....
BUT!!!! back to Up 200 Down 200
Wednesday, June 10, 2009
close at what 94.4
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I think it's odd that sovereign funds supposedly project their moves by commenting on bonds. If an investor is "thinking" of buying IMF bonds Russia) or "selling" US Treasurys (China), why would they broadcast it?
Methinks it's some kind of diabolical thinking.
What catalysts would there be for US Treasurys to stop their decline? Payback of TARP funds? Projected US budget deficits less than expected? Rush to safety?
Safety.
the interesting thing is dollar up... oil up..
which may telegraph "Something is going on".... maybe the Russians are buying oil....
but....
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