SUNDAY 5/8/16; Mother’s Day; New Saudi Oil Minister

Today is Mother’s Day when Mom is honored for all her hard work throughout the year. Different countries celebrate the occasion on different days during the year, most are in May, with the United States always 







[Text is Redacted: Purchase May 2016-05 to Read the Complete Chronology]

Treasury yields are; 2-year 0.73%, 5-year 1.23%, 10-year 1.78%, 30-year 2.63%. The 2-10 spread is 105 basis points. The 5-30 spread is 140 bips. German bund 0.149%. The US-German 10-year yield spread is 163 basis points. Japan 10-year yield -0.117%. BOJ Governor Kuroda has sent the 10-year JGB yield down to -0.12%. The central bankers are madmen pulling at levers in desperation as the seven-year global Keynesian money-printing experiment marches towards a resolution.