WASHINGTON (MarketWatch) -- The United States federal government ran a deficit of $176 billion in October, the first month of the 2010 fiscal year, the Treasury Department reported Thursday. Receipts were $135 billion, the Treasury said, while outlays were $311 billion. The deficit was a little higher than a congressional estimate of $175 billion and marked the 13th consecutive monthly budget shortfall. A year ago in October the deficit was $156 billion. http://www.marketwatch.com/story/us-ran-deficit-of-176-billion-in-october-2009-11-12-140160 How long has the average US citizen to work in order to cover a 176 billion USD deficit ?
Under prior "normal"(?) times, US government spent about $9-$10 Billion per day... with today's deficit.... what, $14 Billion per day?
http://www.zerohedge.com/article/16-billion-30-year-auction-closes-4469 More rotation out of long end paper into near maturities. Soon 100% of US Debt will be maturing every few months. * Yields 4.469% vs. Exp. 4.424% * Bid-To-Cover 2.26 vs. Avg. 2.23 (Prev. 2.54) * Indirects 44% vs. Avg. 38.3% (Prev. 48.1%) * Indirect Bid-To-Cover: 1.24 * Directs a staggering 12% of Accepted * Allotted high 18.01%
Interesting to note that although ZN and ZB plunged after 1pm ET, they made up all of those losses in less than 60 minutes.
makes perfect sense, no way in hell i'd own a 30 year - better off burning your money in a fireplace i think most people have no concept how close that puts us to KA-BOOM national debt interest rate can be re-priced overnight 12 trill at less than 8.5 percent is a trillion a year interest - IF you ballance the budget immediately, which Obama might not do
I have to confess that although I understand the macro issues (budget deficits; government debt) I'm not an expert on bond auctions. How does today's 30 year auction "statistics" (for the want of a much better term) compare to previous auctions? For example: how high was the yield compared to expectations? Zerohedge said "Directs a staggering 12% of Accepted". What is the usual percentage of direct bids?