Tuesday, June 29, 2010

Consumer Confidence Dives; Treasury Yields Plunge to April 2009 Levels; An Economic Depression is Here - Congress, the Fed to Blame

Is that a 3-handle I see on the long bond and a 2-handle of the 10-year treasury? Why yes it is.

Treasury Yields - Weekly Close



The week is not over yet but this looks rather ominous. Treasury yields are back where they were in April of 2009 at the start of the so-called "recovery".

I am not quite sure why the 3-month treasury displays as a flatline at .5. The flatline is closer to 0.

Consumer Sentiment Plunges

Inquiring minds note that the Consumer Conference Board Confidence Index Drops Sharply. http://www.conference-board.org/press/p ... essid=3949

The Conference Board Consumer Confidence Index® which had been on the rise for three consecutive months, declined sharply in June. The Index now stands at 52.9 (1985=100), down from 62.7 in May. The Present Situation Index decreased to 25.5 from 29.8. The Expectations Index declined to 71.2 from 84.6 last month.

Those saying conditions are “goodâ€