iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,531 Blog Posts

U.S. Bond Yields Continue to Blow Out; Chinese Yuan Declines for the 11th Consecutive Day

Yes! This is all very good to see. The cost to service our $20 trillion debt load has been soaring since election night, and the markets love it. More than that, the U.S. dollar index hasn’t been this high in decades — yet I seem to be the only crazy person reminding people that a stronger dollar is a bad thing for the economy,

2yr
U.S. 2yr yield, fucking soaring

dollar
Dollar index, fresh new highs!

Lastly, the Chinese have decided to rig their currency more than ever. The PBOC has priced their currency lower for the 11th consecutive day.

cny
Nothing to see here

As you were.

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5 comments

  1. peso trader

    Most corporate spreads are tightening into this sell off so the pain hasn’t been that bad, even high yield. But municipal bonds on the other hand are acting like we won’t be paying any taxes at all in a few years, they are getting absolutely kicked down the stairs (current coupons have gone from 2.75% to 3.75% in just a couple of months). I haven’t looked but I bet leveraged muni closed end funds are getting crushed…I see some people calling this dollar rally the death blow to the stock market, oil may get re-priced @ 40 and gold will break $1200 if this doesn’t let up.

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  2. stockslueth

    Moar Moar!

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  3. georgiebest

    If the debt is in $ and US Gov prints the $, then is the servicing of said debt an issue?

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  4. heaterman

    Why pray tell, is the yield curve soaring like this. Who calls this shot and makes it happen?

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