Helps to have some. Oh look, here's (contrary information) that the 10yr yield has been rising already since July 19th, the latest swing anyway (red box). Low for the year was way back on April 5th, 4 months ago. Dates shown on bottom of chart. Guess that was when Treasury and Fitch got together.
%% Sounds right; they did warn in MAY[Forbes ,May 25,2023]. DOW + QQQ had a good year in 2011. But the $00.25 +/ down year for SPY benchmark , 2011 could have made them a bit wary?? One lady asked is that $00.25 plus 1?? No ,its $00.25 more or less
Everybody is entitled to an opinion...until they run into someone who really knows what they're talking about.
Opinions with a little something else behind it is obviously fine. Opinions and nothing else is fine as well ... if it is clearly stated in the post. "Otherwise here's your ..." hat - a tinfoil one.
It wasn't the Treasury. There is more than one entity that feels that the yield curve should correct.
Fitch downgrades Fannie and Freddie By Riva Gold, Editor at LinkedIn News Updated 1 hour ago Ratings agency Fitch said it has downgraded the credit ratings on mortgage finance giants Fannie Mae and Freddie Mac as a direct result of its U.S. sovereign rating downgrade on Tuesday. Fitch had cut the U.S. long-term credit rating from AAA to AA+, citing "an erosion of governance" and recurring debt limit skirmishes. While markets have been taking a small hit, some investors and analysts say the move is largely symbolic and is unlikely to affect government borrowing, The New York Times reports. The U.S. Treasury market is the world's largest sovereign debt market, backed by "a strong and diverse economy" and helped by the central global role of the dollar. The ratings agency said Fannie Mae and Freddie Mac, which guarantee about 70% of U.S. mortgages, benefit from implicit government support as government-sponsored enterprises (GSEs). Warren Buffett told CNBC on Thursday that while concerns are valid, it doesn’t change what Berkshire Hathaway is doing.
(Bloomberg) And finally, here’s what Katie’s interested in this morning… Fitch Ratings’ surprise move to strip US government debt of its top-tier rating this week sparked passionate criticism from Washington and Wall Street alike, with Treasury Secretary Janet Yellen deriding the downgrade as “arbitrary.” But to David Beers, former head of S&P Global Ratings’ sovereign debt scoring committee and one of the analysts behind the controversial ratings cut in 2011, it’s an important reminder that the US isn’t entitled to the top grade. “The underlying fiscal position and underlying debt trajectory has picked up pace,” Beers, who is now a senior fellow at the Center For Financial Stability, told Romaine Bostick and I on Bloomberg Television. “AAA is the top rating any rating agency can assign, but of course, the US and any other sovereign that’s being rated has no god-given or automatic right to that.” Fitch’s move comes nearly 12 years to the day since S&P shocked markets by dropping the US one level to AA+ from AAA for the first time in history, a move helmed by Beers and John Chambers. Their reasoning more than a decade ago sounded startlingly similar to Fitch’s logic this week: ballooning US deficits and political dysfunction. Though May’s debt-ceiling drama ended with an as-expected last-minute deal, repeated debt-limit clashes and eleventh-hour resolutions have eroded confidence in the nation’s fiscal management. For Beers, it’s a bit of a victory lap. S&P has yet to reverse the downgrade, and many of the issues flagged by the rating firm back in 2011 have only escalated since. If anything, other agencies have been a bit meek, he said. “It’s fair to say that the rating agencies, based on their own criteria, have been pretty timid in their actions,” he said. “If anything, Fitch’s action is simply confirming what S&P decided back in 2011, and here we are in 2023.”
just got a news item that treasury refused to redeem Japanese 282 billion holdings matured on 7/28, not sure about which currency, or whether it is fake news, or maybe Japanese got no choice but roll into other notes, stay tuned next week.
Sure, why place equity in an regulated environment. Too easy, throw the bloody pension funds into shark pit and watch from afar. One way to keep the masses from resting while walking down the primrose path Akuma