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More Treasuries Coming This Year With Less Buyers

Cory
January 29, 2018

Marc Chandler, Head Of Global Currency Strategy at Brown Brothers Harriman joins me while on a trip in Europe to recap what to look forward to this week in terms of data and news. We discuss the upcoming treasury announcement outlining the total treasury issues this year which is expected to be nearly double from the prior years. Also the State Of The Union and FOMC meeting are considered.

Click here to visit Marc’s blog.

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Discussion
18 Comments
    CFS
    Jan 29, 2018 29:58 PM

    The FOMC most probably will not raise interest rates this week. Also, just as they did today, in collusion with the Fed and vice versa, the treasury bought up bonds today to very temporarily stop the collapse. That’s why they announce they are going to increasingly sell treasuries. Realize they are saying to verbally inform traders that they are supporting the bond markets and will ever increasingly do so.
    It did not work very long today. It won’t woek in the future. The bond market will collapse. While some money will seek refuge in the stock market, at the current level of evaluations that will not work for very long. The stock market will also collapse.
    And so it will go……reversion to the norm.

    CFS
    Jan 29, 2018 29:22 PM

    I agree with Ron Paul on this issue.

    https://www.youtube.com/watch?v=m1g50Lk-63U

    Michael Moore is stupid rich guy, the mouthpiece of liberal morons.

      CFS
      Jan 29, 2018 29:51 PM

      And speaking of Liberal morons…..

      Washington Governor Rejects Permit For Oil-By-Rail Terminal
      By PHUONG LE – Associated Press – 17 minutes ago
      SEATTLE (AP) — Washington Gov. Jay Inslee on Monday rejected a permit for what would have been the nation’s largest oil-by-rail terminal, saying the record shows the risks and impacts outweighed the need for and potential benefits of the project. Inslee agreed with the recommendation of a state energy panel, which unanimously voted in November to recommend that the Vancouver Energy project in southwest Washington be denied.

      The joint venture of Savage Companies and Andeavor, formerly known as Tesoro Corp., proposed to receive about 360,000 barrels of North American crude oil a day by trains at the port of Vancouver along the Columbia River. Oil would be loaded onto tankers and ships bound for West Coast refineries.

    CFS
    Jan 29, 2018 29:26 PM

    We should watch Argentina and Venezuela if we want to learn what would happen if we follow the teachings of Moore, Pelosi, Schumer and the like.

    Argentina Freezes Government Salaries To Cut Spending
    Associated Press – 47 minutes ago
    BUENOS AIRES, Argentina (AP) — President Mauricio Macri said Monday that government employees in Argentina won’t receive pay raises this year as part of a string of measures aimed at cutting spending.

    Macri also announced the elimination of 1,000 “political positions” and the firing of family members appointed as advisers by government ministers. The measure is expected to save the government about $75 million.

    Macri came into office in December 2015 promising to revive Argentina’s economy and fight entrenched corruption. Although he is credited with ending a longstanding dispute that returned Argentina to global credit markets after more than 14 years, he has struggled to attract badly needed foreign investment.

    CFS
    Jan 29, 2018 29:34 PM

    And if you want another example of how efficiently and well government control actually works…..consider Puerto Rico, where many months later people are still without electricity.
    PREPA, the Puerto Rico electricity company, is government run, not a private company.

    Jan 29, 2018 29:00 PM

    Good………these guy forget who they work for…….WE THE PEOPLE
    https://www.zerohedge.com/news/2018-01-29/house-intel-committee-votes-make-shocking-fisa-memo-public

    Jan 29, 2018 29:19 PM

    (ABRA) (ABBRF) AbraPlata Provides Update on its Diablillos Silver-Gold Project in Argentina and Streamlining of Management Structure
    by @nasdaq on January 29, 2018

    https://ceo.ca/@nasdaq/abraplata-provides-update-on-its-diablillos-silver-gold

    Jan 29, 2018 29:24 PM

    METALS-Supply worries drive Zinc to 10 1/2-year high

    Reuters – JANUARY 29, 2018

    https://www.reuters.com/article/global-metals/metals-supply-worries-drive-zinc-to-10-1-2-year-high-idUSL8N1PO2YZ

    Jan 29, 2018 29:23 PM

    (PVG) Pretium’s Ovsenek responds to Brucejack ramp-up criticisms

    Matthew Keevil – January 29, 2018

    “On Jan. 23, Pretium Resources (TSX: PVG; NYSE: PVG) provided an update on the ramp-up at its flagship Brucejack underground gold mine in northwestern B.C.’s Golden Triangle district.”

    “The company was criticized by BMO Capital Markets for providing “more questions than answers” following a release that included lower-than-expected mine grades and higher all-in sustaining costs (AISC).”

    “Pretium’s stock had dropped over 30% to a 52-week low of $9.18 per share on the Toronto Stock Exchange (TSX), on 13.3 million shares traded at the time of writing on Jan. 29.”

    “The company attributes the results to a delay in commissioning its “grade control system” at the mine, as well as flaws in its development plan related to areas lacking sufficient in-fill drilling.”

    >> Joseph Ovsenek: “I think the market is not understanding that we’ve got a highly-variable, high-grade gold mine that’s just ramping up. The fourth quarter was our second quarter of actual production. We certainly started out very well, but it’s still a ramp up. You don’t just start-up a mine and turn on the factory. It’s much more complicated.”

    “The market didn’t give us any leeway, and they’re entitled to do that, but this is all part of the process. We’ve got work to do.”

    > TNM: The grade reconciliation of 75% to 80% was a talking point following the release. Was that a range Pretium expected during pre-production?

    >> JO: We’ve been pushing [grade reconciliation] from our first week of mining. We told everyone that it was very early days and we’d do the best we could at year end. But we’re looking at reconciliation over just five months, and we’ve been mining a very small portion of the deposit where we didn’t have the drill density we do in other areas. We also don’t have our grade control system working.”

    “So, we think the results are actually quite good for our first six months of operation, all things considered.”

    “But the market is clearly saying they want us to be better than that. It’s early days on grade reconciliation along with everything else. We believe as we get into other better-defined areas, and open up the deposit, we’ll be able to approach parity with our grade model. But right now we’re five months into mining on an operation that has a twenty-year life.”

    “It’s the harsh reality of the market and obviously we have to do better. We’re working hard on that. In the end we’re in a ramp-up and we believe things are going to meet our expectations. It’s just a question of time.”

    http://www.northernminer.com/news/exclusive-interview-pretiums-ovsenek-brucejack-ramp-criticisms/1003793482/

      Jan 29, 2018 29:27 PM

      Roundup 2018: Osisko’s Roosen on tackling ‘tough’ markets

      Matthew Keevil – January 25, 2018

      “The group emerged as a major financial player following the $4.3-billion sale of Osisko Mining’s flagship Canadian Malartic gold mine in mid-2014 and now provides alternate capital funding to explorers and miners via stream financings, equity placements and related partnership models.”

      “The transition in capital markets has been staggering as we move toward a technology-based system. The introduction of exchange-traded funds, index funds, and advanced trading systems has really eaten our lunch. We’ve also seen that shift from active to passive investing. Where is mining capital going to come from? That’s our great challenge.”

      “Osisko Royalties now sits atop a broader mining empire that includes 16 cash-flowing assets that generated in excess of $103 million in revenue over the first nine months of 2017.”

      http://www.northernminer.com/news/roundup-2018-osiskos-roosen-tackling-tough-markets/1003793360/

    Jan 30, 2018 30:13 AM

    Kodak’s Dubious Blockchain Gamble

    Kevin Roose – JAN. 30, 2018 – The Shift

    “That’s partly because the blockchain — the mathematical ledger system that forms the basis of digital currencies — has a kind of talismanic effect in today’s stock market. As investors seek to capitalize on the popularity of currencies like Bitcoin and Ethereum, a number of struggling companies have reversed their fortunes, at least temporarily, simply by adding “blockchain” to their names or announcing a new cryptocurrency venture unrelated to their previous line of work. (The most notorious example is Long Island Iced Tea Corp., a beverage company that tripled its value overnight after it rebranded itself “Long Blockchain Corp.”)”

    “These sudden, brazen moves have also attracted the attention of regulators. In a recent speech, Jay Clayton, the chairman of the Securities and Exchange Commission, said that the agency was “looking closely at the disclosures of public companies that shift their business models to capitalize on the perceived promise of distributed ledger technology.”

    “Kodak is the most prominent old-line company to enter the cryptocurrency game so far, and maybe the most controversial. Almost immediately, critics pounced on the company’s plans, characterizing them as a desperate money grab.”

    https://www.nytimes.com/2018/01/30/technology/kodak-blockchain-bitcoin.html