"...If US consumers and Washington can't borrow cheap at the long end this summer, then they'll just have to get cheap money at the short end instead..."

"POSSIBLY THE EASIEST act for any human being is to spend money which does not belong to him," wrote Robert L. Smitley in his 1933 classic, Popular Financial Delusions .

The only thing easier, in fact, is lending money that's not yours and earning a yield on the profit or loss either way. "Almost anyone will risk funds in an enterprise when the funds are not his own," Smitley went on during the Western world's last Great Depression. Hence today's bubble in all assets.

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Friday, June 08, 2007

Bond Market Massacre! / Interest-Rates / US Bonds

By: Money_and_Markets

Mike Larson, here. Two weeks ago, I issued an urgent bond market warning. I said that Treasury bond prices were falling and threatening a critical level of support. If we broke through it, I said, prices could really plunge and rates could take off like a rocket.

Well, guess what? We just sliced through that support like a hot knife through butter. Long bonds plunged by more than a point yesterday. While that may not sound like much, it was the biggest one-day percentage drop in more than 26 months!

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Friday, May 25, 2007

Tremors in the US Bond Market / Interest-Rates / US Bonds

By: Money_and_Markets

I've had plenty to talk about in recent weeks — underperforming REITs … the ongoing problems in housing … risky commercial real estate financing … private equity firms gone wild … overseas profit opportunities. These are truly interesting times in many markets.

But there's been one thing I haven't talked about — interest rates. The reason? They haven't been going anywhere. You ever see one of those EKG machine readouts? That's what the chart of 10-year Treasury Note yields has looked like since last August.

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