After yesterday's stellar 10Y auction, today at 1pm the Treasury sold the last of three weekly auctions, by offering $12 billion in 30Y paper to eager buyers. And eager they were, with the high yield of 2.870% stopping through the When Issued 2.874% by 0.4 bps. This was the biggest strop through on a 30Y auction going back to October 2016.
The Fed is baffled as to why inflation remains so low.
It’s a clever move, given that the reason inflation is believed to be “low” is because the Fed has been purposefully understating inflation for years.
Perhaps the biggest fraud ever committed in financial history concerns the understating of inflation in the Unites States post-1971.
Authored by Steven Vanelli via Knowledge Leaders Capital blog,
With some exceptions, smaller-cap stocks in the US tend to pay higher taxes than their larger-cap peers. As such, speculation that corporate tax rates may be cut has stoked the performance of US small caps recently.
[ZH - and in recent days - tax hope appears to have faded fast...]
Authored by Kevin Muir via The Macro Tourist,
Although US stock markets are getting all the attention, Japan is quietly knocking up against 20-year highs.
One month after Goldman's proprietary crash indicator rose to 67%, the highest level since the financial crisis and dot com bubble, and suggesting a crash may be imminent, stocks continue to hit new all time highs, stumping anyone who still believes there is such a thing as an efficient market.