More Money Management Problems at the Treasury

You may have already seen this item on the Zero Hedge blog. I read it this morning and can only shake my head.

Now what? How can we expect a GSE (Government Sponsored Enterprise) to be successful when the Government itself is in such disarray and clearly has no understanding of how to run anything within a budget, let alone profitably?

Meanwhile, over at Dan Norcini’s blog we find that the Long Bond Flops on Poor Auction Results.

Reports are that the $16 billion, 30 year bond auction, generated poor demand. That should not come as much of a surprise after the big rally has dropped yields down to levels that no one in their right mind would want to lock up capital at for 30 years.

Bonds dropped nearly a full point on the auction news but are once again finding buying at a critical technical juncture. No surprise there also in this heavily rigged market.

No one wants US debt….gee, I wonder why.