The following scrolled across Market News International just before noon:
US TSYS: Sources say the anticipation of some month-end need is helping Tsys as that flow usually materializes later in the day. But some temper that by saying while it is month end, larger extensions, such as the one anticipated this month (0.11 years for Tsys) typically do not get that much actual play because they are so heavily anticipated while smaller extensions usually garner bigger moves. On the midday rise in Tsys due in part to a slide in stocks and strengthening in the US dollar. Also, sources say there are very few willing sellers, especially at the lows. Having said that, dealer desks say there are clearly 2 camps in the mkt, with one being those that are adding to risk assets and financing those trades with rate products.
Not for nothin, but we actually PAY ALOT for that? Really. And it’s almost ALWAYS very timely and good … Alrighty, then … suppose we’re of the camp that perhaps … maybe just MAYBE the month-end index extension (known event) is what is helping keep the Tsy market afloat AFTER stronger than expected Chicago PMI. Throw into the mix the AIG news:
AIG Drops As Bernstein Cuts Price Target On Loss Reserve Fears: WSJ
Here’s THAT visual:
As they say – all hands on deck – the Treasury market can use any and all help it can get these days and it seems it’s coming from near AND from far. In any case, as we sit here and count down the hours until December, thought we’d temporarily interrupt this moment with a few of the finer Tiger Woods jokes we’ve heard. Feel free to help us add TO this list.
First: Why did Tiger hit a fire-hydrant and then a tree? Look, he’s ranked #1 in the world BUT he’s only 86th in ‘driving accuracy’ (ESPN) … THANKS FOR THAT, TJB! But wait, there’s more …
This list comes from the UK Telegraph – Tiger Woods crash jokes: the best on the web
- Tiger Woods is so rich that he owns lots of expensive cars. Now he has a hole in one.
- What’s the difference between a car and a golf ball? Tiger can drive a ball 400 yards.
- Tiger Woods wasn’t seriously injured in the crash, but he’s still below par.
- What were Tiger Woods and his wife doing out at 2.30 in the morning? They went clubbing
- Tiger Woods crashed into a fire hydrant and a tree. He couldn’t decide between a wood and an iron.