|The Daily Show With Jon Stewart||Mon - Thurs 11p / 10c|
|The Big Bank Theory|
The 10 year bond sell off is continuing this morning but it's not as violent. This could all change after the auction results this afternoon.
I suspect the auction will go OK as the PD's play the old bond game as they sell bonds heading into the auction as they begin gobbling up the new ones at the auction at lower prices.
If the auction goes smoothly they will then turn around and sell them at a sweet profit as treasuries rise as a result..
There is too much at stake here for it not to go well. If we see a bad auction then hold on tight because things could get really ugly: