Courtesy of Lee Adler of the Wall Street Examiner
Originally posted May 22, 2013.
The selloff in Treasuries today reminded me of a great song from my childhood.
I just changed the words a little.
Traders on Wall Street get some quick feet
When they do the QE stomp.
Really somethin when the yields start jumpin
When they do the QE stomp.
Whoa oh!It started in Congress
With a Bernanke show
But he gave a wrong answer
Then the yields did blow.They started sellin.
Oh, what a sight to see!The yields are jumpin and the banks are dumpin
When they do the QE stomp.
Really somethin when the yields start jumpin
When they do the QE stomp.It gets that panic feel.
You know you know it’s real.
You better sell.
You know it well.If you decide to wait.
Then it will be too late.
Oh my.
Oh why oh why.
Ohhhh whyyy?Traders on Wall Street get some quick feet
When they do the QE stomp.
Really somethin when the yields start jumpin
When they do the QE stomp.
Whoa oh!If you don’t sell it now
You’ll get hit with a pow
And your cash will be all gone
All-l-l-l-l goo-o-ne!The yields are jumpin and the banks are dumpin
When they do the QE stomp.
Really somethin when the yields start jumpin
When they do the QE stomp.Whoa whoa
Repeat and fade.
Actually, the banks have been dancing out the back door for the last 10 months.
Bank Holdings of Treasuries and Agencies – Click to enlarge
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