gold, page-132948

Hi Slange and all,

I see the Japanese 40-Year bond auction demand is falling badly.

Demandat 40-year JGB auction sinks to lowest since July | Reuters

The US ten-year note appears to be heading up once again one wonders if the January peak will be surpassed.

US 10 yearTreasury Bond, chart, prices - FT.com

Funny old world when Argentina's ten-year bond is an easier sell than the Japanese or American notes. The Argentina ten-year note yields 5.960% currently.

Given the amount of new paper that Mr. Bessent intends to sell shortly he may need match the Argentinian rate to convince the vigilantes to buy!

Personally, I think a US ten-year rate of 5% will be problematic particularly after the recent downgrade from AAA rating.

Some people may not know this but as recently as October 2000 Fitch had Argentina rating at AAA and we all know how well that went over the last twenty-five years. It would certainly give a thinking man cause to ponder holding any government bond for thirty years or longer (Japan 40.)

Not for me I’ll stock to physical Gold for the time being.

Cheers