Something afoot in the markets today?

[Sparky]

Silver dropped $2.08 from its high this morning. The stock market lost its gains for the day with some late volume. After closing at 2.94% yesterday, the 10-year bond spiked to 3.17% at the 3 PM close today. That's an 8% move in one day in an asset class that tends to move like a snail.

Sniff, sniff. Big players doing some year-end juggling? Let's see if there's any follow-through in this volatility tomorrow.

[osoab]

Silver dropped $2.08 from its high this morning. The stock market lost its gains for the day with some late volume. After closing at 2.94% yesterday, the 10-year bond spiked to 3.17% at the 3 PM close today. That's an 8% move in one day in an asset class that tends to move like a snail.

Sniff, sniff. Big players doing some year-end juggling? Let's see if there's any follow-through in this volatility tomorrow.



I have seen some stuff that the investigations into insider trading might be expanding. Our fearless leader also did some talking this afternoon about the tax cut on payroll and the UE extension.

[osoab]

The 1/2 trillion added to current account deficits by the UE extension, the payroll tax reduction, and the extension of the Bush tax cuts might have something to do with it too. Full day to digest the info.

From Deninnger. (http://market-ticker.org/akcs-www?post=174204)


Estimates are that the package will add $500 billion to the deficit ($900 billion over two years) from where we are now. If that's anything close to accurate we're in big trouble - we're running $1.6 trillion now! I'd hope there are some offsets in there and this isn't the net change - it's difficult at this hour to know - because if it is net change we're going to hit the wall once the market figures this out.

[DMac]

TYZ Bloodbath Commencing In 5...4...3... (http://www.zerohedge.com/article/tyz-bloodbath-commencing-543)

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/gono/TZY%2012.7.jpg

Furthermore, in extolling the virtues of the administration's trading record, one should be objective and point out that with a DV01 of $1,000,000,000, the Fed's SOMA is sitting on $20 billion in intraday losses today alone. (Don't forget that the Fed is the biggest hedge fund in the world currently).

[osoab]

Closing bond (http://money.cnn.com/data/bonds/) prices


U.S. Treasury Yields
Maturity LastYield PreviousYield
3 Month 0.14% 0.12% +14%
2 Year 0.52% 0.41% +21%
5 Year 1.75% 1.52% +14%
10 Year 3.16% 2.94% + 7%
30 Year 4.43% 4.25% + 4%
Data as of 5:00pm ET

I added the percentages. Look @ the 2 yr. :o

[mike88]

Kinda like what junk bonds do eh?

[Trinity]

Yes I thought the tax news from last night would carry Gold and stocks through the rest of December. I still do but I am not so cocky sure as I was.