Skip to comments.22 Days Later – Little Evidence Of Rage In The NASDAQ, UST10, Gold, VIX Or CDS (Just Obama)
Posted on 10/08/2013 3:14:35 PM PDT by whitedog57
In the movie 28 days later, the rage virus virtually destroys the UK.
But 22 days after Congress returned from its summer recess, we are stuck in a budget and debt ceiling battle royale. And we have people behaving liked crazed zombies from 28 Days Later.
President Obama today defiantly said that he would not negotiate until the Republicans surrender unconditionally. Then he will talk. House Speaker Boehner still believes Obama will negotiate.
Congress has had 22 days to work of the budget and debt ceiling. But I dont see the rage in financial markets that I would have expected.
Once the past 22 days, the NASDAQ index has risen and fallen to back where it started.
The US Treasury 10 year yield is about 30 basis points lower than 22 days ago, but has been calm since September 25th.
The VIX started at 16 and is up to 20.34, low by historic standards.
The US CDS has over doubled in the last 22 days from 18.50 to 41.81. But compared to Greece and related PIGS, this is nothing.
And one month Treasury bill rates have risen from almost 0 to 0.3347 over the past 22 days.
Gold has actually declined over the last 22 days.
The only rage I have seen is President Obama at todays press conference. No American president would deal with a foreign leader like this, he said, according to Bloomberg News. That is correct. He only treats Republicans like this.
Well, see, that’s the best thing to do. Make the so-called shutdown permanent.