News/Not News

 

News: The EFSF has issued Bills at a negative rate. This means buyers are no longer asking a fee to bailout the EZ.

Not News: Rates, both nominal and real are negative all over the globe.

News: M. Mayer, a talented and wealthy tech executive and engineer, is going to work at Yahoo.

Not News: She's preggers.

News: The Libor cartel rate rigging scandal is out to 16 banks and multi-billion (10-15B our est, some as high as 35B) settlements are coming. HSBC is now accused of money laundering and terrorist financing.

Not News: That banks in the system were rigging Libor.

News: Every single rates analyst that appeared on CNBC yesterday advised owning 10 year notes. The reasons being at 1.45% they would go to 1.25% (cap. appreciation) and financial

repression

Not News: The note has been in an unbroken bull market for the last 30 years. Carry is different from capital appreciation. Financial repression is a choice.

News: There was a sighting of an albino hummingbird and the birth of a white bison recently.

Not News: Black Swans.

News: Peeps now think nothing will change.

Not News: Things change.

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