hands up whos in for consolidation, page-37

Wow you QBE holders are really something.

Headline news in the fixed income market an hour ago or so.

US sells $13 bln 30 year notes at 4.41%; bid to cover 2.74 - yields fall.

Do you know what this means?

US 10-year notes have fallen to 3.18% from 3.25% just ahead of the auction results - because demand was good.

You QBE people need to understand the mechanisms behind the fixed income market before trying to decipher it. Or just stick to the basics and leave the smart a.. remarks for the postman.

For your information - I was the first to highlight that QBE was an interesting trade based on historical low yields - months ago.

http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=1249412&msgno=5687097#5687097

Now everyone has jumped the bandwagon professing economic expertise and you guys don't even know what drives the yield.. lol.

It doesn't hurt to listen, and yes yields will now retrace as demand for debt issuances has become healthy again and bidders are not in a position to dictate terms[which drives yields higher]. However this does not mean yields will crash - but to avoid a crash[or dangerous spikes] in yields; a balance was required or both those offering and bidding for debt would have asked for whatever the hell they wanted and this is never appropriate for a market of this type of mass..