Big move in yields this morning, indicative of ‘normalization.’ Yesterday we saw the VIX collapse and oil sky rocket. Now bond yields are soaring. By the looks of it, things are getting back to normal again. Have a look at $BYND, +14% — because fake meat is better than no meat. Your summer grills will be filled with soy.
I am still short banks and CRE — because fuck stocks. And I am not a fan, dare I say, of sharply higher prices built off the backs of nothing. Very soon, chards of metal will be bustling throughout your city streets and I will, once again, reign victorious.
I am trying to get a flight into NJ during May and it’s not possible. The earliest I can fly is LATE JUNE — which tells me we’re entirely fucked. Rent is due. People are living out of soup cans again — and you’re over there buying soy burger stocks — pretending all is well. Well, I have news for you.
ALL IS NOT WELL and prices of these fucking stocks will soon get the idea. You just sit there and wait for it.
I’ll post an update around noon.
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BYND is made from chickpeas not SOY you uncultured SOB.
… and fake blood from beet juice and pea protein.
Publix had BOGO on their food about 8 weeks ago and I stocked up although I generally eat grass fed organic real stuff but I couldn’t pass up the deal at Publix.
is it ture that Ramp eats beyond meat several times a week?
Black plumes of smoke and brimstone, Mr. Fly!
It’s a littel early to call a 2-day interest jump a trend, especailyl after the massive Treasury debt issuance.
L O L. In any other era would the Nasdaq still be green after a fed report that could have been entitled “No Fucking Way”?
https://www.zerohedge.com/markets/tbac-sees-perfect-storm-bond-market-warns-flood-new-debt-may-impair-market-functioning
Dilemma:
1) Americans lose faith and panic if stocks fall
2) Stocks market can’t go up without interest rates going down in the long term, regardless of how well the economy is doign (look at the 50-yr chahrts of long bonds)
3) Interest rate can’t fall with Trillion-dollar quarterly *net* debt issuance
Solution:
The FED already has a $6T balance sheet. The S&P500 has a $20-$30T market cap. Why don’t the companies just issue stock directly to the FED, instead of
– company issues bonds
– FED buys bonds
– company buys stock with proceeds from bonds
While we’re at it, the natioanl debt is in that same $20-$30T range. Why doesn’t the FED just buy all of it as well?
Maybe these are questions for #InfiniteKashkiri
Insanity rules.
“Why don’t the companies just issue stock directly to the FED”
Too transparent. Smoke and mirrors …need mirrors.
Was looking at historical chart of the long yield over the weekend.
Picked up TMF yesterday.
Picked up even more just now.
The Soviet anthem plays in my head everytime I buy TMF.
Triple the volatility with a third of the yield. Great choice.
I agree, great choice (for people that understand that capital appreciation is more important than dividends, whether it is Treasury bonds or XOM).
Been out of them for several weeks but got back in shortly after your post – thanks, peaches.
Yield jumped because of high Treasury debt issuance. Why? Who didn’t expect this after $4-5T of new spending in 1 fucking month?
Knee-jerk reactions = opportunity
Fly. Just drive. Sell your POS Benz and check out a Tesla Y. Your wolf/dog can fit in the back I am sure. Tesla is almost done with their new sales/service center in Raleigh.
Although, I do read that the paint jobs on the Y is real crap. But, think of it as a birthing present for Elon Musk and the little lady.
Birthing present?
Dude just received a $700M bonus/payout from a company that has never run 1 year in the green.
Not sure how he didn’t make this list:
https://www.beliefnet.com/faiths/christianity/8-richest-pastors-in-america.aspx
The Tesla fan club does remind me of a religious cult of sorts.
IMO if I am going to pay that kind of $$ for a car I want the paint to look good, no panel gaps, no rusted bolts, etc. And then I have to pay higher insurance and wait for weeks if I need a part.
I have an EV but went for practicality (2020 Chevy Bolt). It gets the job done for what I need and got a good deal. It’s the first GM I have owned in my 50 years of owning cars and I took a chance.
I see Benny Hinn is on that list. He used to live less than a quarter mile from my house in the Orlando area before he was forced to high tail it to Dallas, I think it was. All kinds of stories.
Don’t travel back to NJ Fly, it’s Wuhan on QE at the moment.
And its pissy cold weather in the armpit today
If we didn’t change our attitude toward this virus, we will turn into a third-word country in due time. I recall in the eighties a young man will come to my office with 103 fever asking for an antibiotic. I will give an Rx and advise bed rest for a few days. ” no no I have to go to work, I have a very important job” . These days someone tests positive for COVID you close the plant/office; file a lawsuit. Welcome to the new normal. The politicians on the coasts are prophets of doom, reinforcing this new attitude.
Ok, but you’re in 70s now, if I recall. That same man comes in to your office today, and you have probably a 1:20 chance of getting the virus from him and dying yourself.
This isn’t the 80s, and COVID-19 isn’t the flu.
If we ignored this and did nothing, we’d end up with 2-5M dead. Is that acceptable? That is the question, not “Why are we freaking out over the flu?”
The trannies will slap some sense back to the market. I don’t care if Lord AI doesn’t care about the common serfs. Lord AI will be hurt by less advertising fees when a few million more people lose their jobs as 60% of the transportation companies go bankrupt.
That argument is so 2009.
Fly Do you spy SRS going to the moon?!
Failing NYT rocked higher …looks like it may yet have more up intraday.
Short NYT when Trump is no longer president.
Covered TLT short.