Business

One look at today's repo market levels before today's 3 Year auction would have suggested that just because 3 Year paper was trading special in repo, that we would be primed for another short squeeze.

However, that did not happen. Instead, and contrary to last month's stellar 3 Year auction, moments ago the US Treasury reported that today's auction printed at a high yield of 0.93%, tailing the When Issued 0.928% by 0.2 bps, and 5.5bps higher than last month's 0.875%.

UNSEALED: DOJ Confirms Holders of Securitized Loans Cannot Be Traced

Originally posted at https://mortgageflimflam.com
With additional edits by https://4closurefraud.org

In a filing unsealed on June 3, 2016, the Department of Justice (DOJ) confirms what many of us have known for years. Nobody, not even the U.S. Government, with massive resources, can determine who owns your loan and has the right to collect on your mortgage.

Submitted by Michael Shedlock via MishTalk.com,

When Will the Fed Act?

Given the massive swing in rate hike sentiment following the disastrous jobs report last week...

...Inquiring minds may be interested in how economists saw thing about a month ago.

On May 12, the Wall Street Journal too a survey of economists on the question When Will the Fed Act?

Today we published a comment on ever-increasing bank capital levels and why the emphasis on bank capital will not lead to greater financial stability.  Since "risk" is necessarily quantified and variable, based almost entirely on market-determined credit spreads, until we stabilize market spreads, "risk" is not a controllable matter.  By their nature, moreover, whenever market spreads stabilize they become inherently unstable and the more stability is relied upon the greater the risk of error and crisis becomes.

Via Dana Lyons' Tumblr,

A key index of biotechnology stocks may be approaching significant levels of resistance.