WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Lest we forget: bonds are for dicks.

November 23, 2012, with the 10-year Treasury at 1.69%:


Today:
U.S., European and Japanese bonds fell as governments in some of the biggest markets sell debt amid a rout in fixed-income securities.

The global selloff is intensifying after already pushing U.S. yields to the highest level this year and driving Germany’s 10-year yield 14 times higher in less than a month. The U.S. plans to auction $24 billion of three-year notes Tuesday, the same amount of 10-year securities Wednesday and $16 billion of 30-year bonds May 14.

The S&P 500 is up 57% since November 23, 2012 and yields 3% on your cost that day.

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