From Apr 2-9, the US government's cost of borrowing jumped, 10-year yields spiked from 4.1% to 5.1%, resulting in $150b more in carry per day for the U.S. A big problem when trying to pass $4.5t tax cut for the 1%.
A 3yr bond auction on Apl 8 saw very low demand, a big problem
Apl 9, day of the 10 yr auction, (Trump blinked) tariffs were scaled down and the auction succeeded.
Apl 9th at 9:44 Am, Trump tweeted "It's a good day to buy", we knew what was coming, it was so obvious, with the pending Note auction coming at 1pm.
I won't share $$ what we made that day, but high 7 figs was not unusual for the kind of leverage we deploy. We are little guys in this game.
Google call option spike on Apl 9th and you will see we were far from alone.
Of course Jr and the Trumps were in before us, I'd bet half of the WH and most of the GOP congress were in too.
A 3yr bond auction on Apl 8 saw very low demand, a big problem
Apl 9, day of the 10 yr auction, (Trump blinked) tariffs were scaled down and the auction succeeded.
Apl 9th at 9:44 Am, Trump tweeted "It's a good day to buy", we knew what was coming, it was so obvious, with the pending Note auction coming at 1pm.
I won't share $$ what we made that day, but high 7 figs was not unusual for the kind of leverage we deploy. We are little guys in this game.
Google call option spike on Apl 9th and you will see we were far from alone.
Of course Jr and the Trumps were in before us, I'd bet half of the WH and most of the GOP congress were in too.
