Trend and Value does the impossible.....

Lucas dislocates his shoulder

....it makes the bonds market entertaining and funny.

Go have a read of Lucas's latest post linked right here on the bonds market over at his site, 'Trend And Value'. It's intelligent comment but (and I dunno how he did it) more importantly he's made one of the world's driest subjects seriously funny.

Recommended to everyone, interested in bonds or not. 100% right about Minyanville, Lucas.

UPDATE: Lucas now also offers excellent impersonations of Radiohead's Thom Yorke.

I got a Nobel Laureate in my corner...who you got?

Remember how I keep banging on about the three month T-bill at virtual zero yield being a serious thing? Remember how this humble corner of cyberspace is long GLD because of that miniscule yield and what its consequences imply (two recent examples linked here)? Well check out what Paul Krugman blogged last night:

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November 20, 2008, 7:15 pm

Don’t panic about the stock market

Panic about the credit markets instead. Interest rate on 3-month Treasuries at 0.02%; interest rate on high-yield (junk) bonds over 20%.

This is an economic emergency.

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Unsurprisingly and quite rightly, nobody gives a rat's trasero about Otto's shrill voice, but when a heavyweight speaks, people listen. Here's spot gold this morning:

You go girl.