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Pam and Russ Martens: Wall Street tells Fed there's no more room for Treasuries
By Pam and Russ Martens
Wall Street on Parade
Friday, February 26, 2021
The action in the U.S. Treasury market yesterday reminded us of the classic "I Love Lucy" episode at the chocolate factory. As the conveyor belt churns out chocolate balls faster than Lucy and Ethel can handle them, they resort to stuffing them in their mouths, their hats, and their shirts. Lucy remarks: "I think we're fighting a losing game."
... Dispatch continues below ...
American Lithium Named
to TSX Venture Exchange Venture 50
via Globe Newswire and Yahoo Finance
Wednesday, February 24, 2021
VANCOUVER, British Columbia, Canada -- American Lithium Corp. (TSX-V: LI, OTCQB: LIACF, Frankfurt: 5LA1) has been named to the 2021 TSX Venture 50, an annual ranking of top-performing listed companies on the TSX Venture Exchange.
The 2021 TSX Venture 50 is an annual ranking of the top-performing listed companies from five industry sectors: clean technology and life sciences, diversified industries, energy, mining, and technology. The selection is based on year-over-year performance across three equally weighted criteria: market capitalization growth, share price appreciation, and trading volume for the year ended December 31, 2020.
"We are very pleased to be recognized in the 2021 TSX Venture 50," said Michael Kobler, CEO of American Lithium. "The past year has seen American Lithium reach new highs as we continue to forge ahead on our large-scale TLC Lithium Project in Nevada and now that we have agreed to acquire Plateau Energy Metals to create a leading diversified lithium development company. On behalf of our Board of Directors, I thank our team at American Lithium for their hard work and our shareholders for their support along the way." ...
... For the remainder of the announcement:
That was the scene in the Treasury market yesterday -- too much supply and nowhere to stuff it, causing a sharp spike in yields, which set off a stock market selloff that left the Dow down 559.8 points or 1.75 percent on the day, while the tech-heavy Nasdaq fared far worse, losing 478.5 points or 3.52 percent.
That the Treasury market is now projectile vomiting T-notes should come as a surprise to no one. Yields on the 10-year note have been rising sharply since early August, with the yield more than tripling from 0.50 percent to an intraday spike yesterday of 1.61 percent. The 10-year note opened this morning at 1.52 percent.
The sharp and persistent rise in yields has left those who bought the T-notes at dramatically lower yields licking their wounds from heavy losses. (Prices of notes and bonds move inversely to their yields.) That has also dramatically lessened the appetite to buy more Treasuries at the current yields when the supply is expected to continue to increase as a result of rising government deficits and stimulus spending. ...
... For the remainder of the report:
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