Oddbean new post about login | logout The 30-year Treasury auction today went terribly. Huge price tail; basically a half-failed bond auction. There hasn’t been an auction that bad in many years. Some people chalked it up to a cyberattack on China’s largest bank, which interfered with their ability to do Treasury transactions, while others contested that this was the main issue and instead argued it was a lack of demand for duration. Treasury market liquidity is really weak. And then like an hour later Jerome Powell was interrupted in an IMF talk by eco-protestors, and he dropped the f-bomb on a hot mic. Fun stuff.
Any link to the hot mic? I want to see Powell acting human instead of his normal robotic self
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Cyberattack on a bank preventing regular operation 👀 I'm expecting to see more of that next year.
Next year the problem will be blamed on Bitcoin.
#bitcoin is closing the f’n door📈
If the US is that reliant on just ONE Chinese bank to sell its bonds, saying there is weak demand is an understatement!
Dalio talked about this a lot in The Big Debt Crisis. I don’t have my copy so I can’t find the notes but here is a rough example. https://image.nostr.build/0cbc24c799a31814a2dd79ce6113d1cd3ab447336278b51d02a183eed3170261.png https://image.nostr.build/1848202a722d51f689841ae8f2786da8109554d22aa5ef59a9b2efca91db3d9e.png
Reminds me of that scene in the HyperNormalizatio(2016) by Adam Curtis where no Banks showed up to buy New York City Bonds in the 80's. This had many consequences.
He dropped the f-bomb? Hope it was “F your puts”….
"Just close the fucking door"
Everyone can feel it. I'm in a totally unrelated field, and have a part-time career in a third unrelated field. In each one, everyone can feel how unsustainable things are, and everyone is just not sure how much longer it can keep going.
That f-bomb made my day.
'Its getting hot in here'
this is how it started in mandibles... nostr:note1lm89a6xfppq3dhumfhs757udh9kqqaywqg54yxpk8djj5qg543esshj7dy
So who bought those 30 year T-bills? (don't say primary dealers)
🦗🦗🦗
https://www.youtube.com/watch?v=mNjEmCcp0bY 7:37 I like viewing original sources. The experience just can't be matched by being told about it.
who were those kids ?
never mind - climate change protesters. where is the Panama boomer when you need him ?
😂😂😂 thanks for the update.. this is gentlemen
Didn’t follow 30yrs, but 10yrs were bad…but not as bad as the worst 10 days of this year. Treasuries have been tanking like alt-coins most of this year, then the expected bounce off of 5% ceiling, but wow… that bounce didn’t last long and now its game on for the Fed to contain the rout. The spin about the cyberattack is complete bullshit, imo. If cyberattacks were a thing, they would have happened in non-pivotal moments in time. Treasuries will be supported thru year end…but not much longer, imo. The Fed is done, but they have fumes in the tank.
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💯 on 🎯
Seeing a lot more 'cyberattack' where once 'hack' would suffice
Next one is going to be btc is money for cyber terrorists
And that's what they say. https://edition.cnn.com/2023/11/10/investing/icbc-ransomware-attack-hnk-intl/index.html
Probably nothing.. 👀 nostr:nevent1qqs0anj7arysssgkm7d5mc020wxmjmqqwj8qy22jrqmrkef2qy22cucpp4mhxue69uhkummn9ekx7mqzyr4tpe6k6v4cp0x5vneas39cqspsxp66z04tcdve5a3vntr6hy057qcyqqqqqqgcxca6y nostr:nevent1qqs2zmnvmx5mqktr74qyp7xy0vuuswxj4pyeq57xj6gnek0zvrmsxjspzpmhxue69uhkummnw3ezuamfdejsygxy3c5lqj6g9nqpeg0ea7xgdmurrrq9nc8fx5er2930pq8jdc2vzypsgqqqqqqssqqyp4
I am from Yemen and the country does not support Bitcoin digital money. I am an artist and I have talents. I hope you will send me paper money. You are capable of this. I hope you will make me happy.💔💔
Ya Marwa, money won't make you happy if you ask me. Or will it? how? You are already on Nostr, I believe you are capable of doing a alot. How can the plebs help?
For me, money will make me happy, and it is true that money is not everything, but I need to buy me some things because I am an artist and I deserve this. Why don't you help me?
I tried. Good luck with your art is all I can say now. Nobody owes us anything for our talents or whatever it is we think we have. If someone has something that they think has a demand, they better learn how to sell it should they are in need of money. They could also teach themselves how to deal with people by observing and understanding and having conversations. I think simply demanding vague help from strangers does not get us far. Worse, asking them for 'money'. I wish you a better life and more constructive thoughts.
Ya Marwa, money won't make you happy if you ask me. Or will it? how? You are already on Nostr, I believe you are capable of doing a alot. How can the plebs help?
For me, money will make me happy, and it is true that money is not everything, but I need to buy me some things because I am an artist and I deserve this. Why don't you help me?
I tried. Good luck with your art is all I can say now. Nobody owes us anything for our talents or whatever it is we think we have. If someone has something that they think has a demand, they better learn how to sell it should they are in need of money. They could also teach themselves how to deal with people by observing and understanding and having conversations. I think simply demanding vague help from strangers does not get us far. Worse, asking them for 'money'. I wish you a better life and more constructive thoughts.
I tried. Good luck with your art is all I can say now. Nobody owes us anything for our talents or whatever it is we think we have. If someone has something that they think has a demand, they better learn how to sell it should they are in need of money. They could also teach themselves how to deal with people by observing and understanding and having conversations. I think simply demanding vague help from strangers does not get us far. Worse, asking them for 'money'. I wish you a better life and more constructive thoughts.
