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They can always redeem the USTs even under debt ceiling… iow they can only issue = what they redeem…
So they won’t “default” as in not redeeming at maturity… but they may not perhaps pay coupons…or pay Medicare providers, defense vendors, etc…
But if the price of your previously purchased 10yr bond yielding 1.5% goes up 15% from what you paid for it then you might not care if they miss a coupon or two…
Looks like Chris Cook is going to nail the oil market get again
https://mobile.twitter.com/cjenscook
" They have more refinery capacity, importing less products and exporting more. China is just closing down refineries in places like Australia, Japan etc.Commentators who should have known better said new refineries were necessarily bullish, when the reality is - at constant product demand - that increasing the efficiency of the global fleet decreases aggregate crude demand & is bearish.
If my thesis is correct that the Saudi wave of US imports in May 2020 was to top up a USO oil reserve pool as prices fell, the converse is we might see oil exported under Saudi orders once USO strip had pumped up the price again.
My call is bearish market news/events (eg China virus, unexpected Iran progress, another bollocks 'price war') will see price take the escalator down Aug/Sept/Oct; then China & pals fill their boots & the FED takes the stairs back up for 9 months.
My thesis is it peaks around WTI Aug 21 expiry late July, maybe $75 > $80/bbl (depends on $/Yuan rate). Then three month rapid downcycle followed by nine months back up the hill again. "
5 comments:
They can always redeem the USTs even under debt ceiling… iow they can only issue = what they redeem…
So they won’t “default” as in not redeeming at maturity… but they may not perhaps pay coupons…or pay Medicare providers, defense vendors, etc…
But if the price of your previously purchased 10yr bond yielding 1.5% goes up 15% from what you paid for it then you might not care if they miss a coupon or two…
I can't believe you're still giving Bernie Sanders any sort of credibility.
He may just be being quiet because he is now committee chairman and has to act more professionally…
Also he want to raise taxes to “pay for” blah blah blah..
they can get reconciliation but looking like closer to start of FY22…
This should be over quickly. The 10yr is now under 1.2%.
They are all saying that was it the downward correction is on its last legs.
https://seekingalpha.com/user/7143701/comments
And
https://seekingalpha.com/instablog/910351-robert-p-balan/5616802-week-end-musings-july-18-2021-dissecting-equity-decline-in-markets-after-opex-near-term
Looks like Chris Cook is going to nail the oil market get again
https://mobile.twitter.com/cjenscook
" They have more refinery capacity, importing less products and exporting more. China is just closing down refineries in places like Australia, Japan etc.Commentators who should have known better said new refineries were necessarily bullish, when the reality is - at constant product demand - that increasing the efficiency of the global fleet decreases aggregate crude demand & is bearish.
If my thesis is correct that the Saudi wave of US imports in May 2020 was to top up a USO oil reserve pool as prices fell, the converse is we might see oil exported under Saudi orders once USO strip had pumped up the price again.
My call is bearish market news/events (eg China virus, unexpected Iran progress, another bollocks 'price war') will see price take the escalator down Aug/Sept/Oct; then China & pals fill their boots & the FED takes the stairs back up for 9 months.
My thesis is it peaks around WTI Aug 21 expiry late July, maybe $75 > $80/bbl (depends on $/Yuan rate). Then three month rapid downcycle followed by nine months back up the hill again. "
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