The Murmurs Continue

tfmetalsreport.com / By Turd Ferguson / Tuesday, August 21, 2012 at 4:50 pm

Earlier today, I made plans to write up a post this afternoon regarding the edge-straddling status of the 10-year note and the Long Bond. Before I could type it up, both reversed and rallied over a point. Whoops.

As reference material, I ask that you go back and review this post before we continue: http://www.tfmetalsreport.com/blog/4112/murmurs-10-year-note.

Now take a look at the charts below. They are hourly charts and notice that, as of 4 short hours ago, both charts were on the verge of breaking lower. What happened? I must admit that, at the time, I thought that this was simply a silly collection of quotes. Reviewing them again with the benefit of hindsight I can see that Fed Goon Lockhart was able to accomplish his primary mission. From ZH:http://www.zerohedge.com/news/feds-lockhart-kills-hopes-further-qeasing

*LOCKHART SAYS `MONETARY POLICY IS NOT A PANACEA’
*LOCKHART SAYS ECONOMIC DATA HAVE BEEN `FIRM’ IN LAST MONTH
*LOCKHART SAYS HOUSING IS STABILIZING AND `ENCOURAGING’
*LOCKHART: MONTHLY UNEMPLOYMENT RISE SHOULDN’T BE EXAGGERATED
*LOCKHART SEES `MORE APPETITE FOR RISK’
*LOCKHART SAYS DISINFLATION, DEFLATION NOT NOW A CONCERN

If they (The Fed and its goons) can talk the bond back up, they can forestall the need for QE a while longer.

READ MORE

2012-08-21 15:12:49

Source: http://silveristhenew.com/2012/08/21/the-murmurs-continue/