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Schiff: The Road To Debt Monetization Is Paved With Good Intentions Via SchiffGold.com, Jerome Powell testified on Capitol Hill last week. He said the central bank plans to hold the course on rate hikes and monetary tightening despite the global chaos caused by the Russian invasion of Ukraine. He also continued to dodge any responsibility for rampant inflation. In fact, he repeated a lie Ben Bernanke told in 2008 and insisted the Fed isn’t monetizing federal government debt because it doesn’t intend to hold those Treasuries forever. But as Peter Schiff said in his podcast, it doesn’t matter what the Fed intends to do. All that matters is what it actually does. As the war in Ukraine rages, the dollar has enjoyed a strong rally. Peter said to enjoy it while it lasts. Everything that’s happening is going to put the dollar’s reserve currency status into jeopardy.” Think about it from China’s perspective. They’re watching the US use the dollar and its status as the global reserve currency as a weapon.

Subpar, Tailing 10Y Auction Prices At Highest Yield Since July 2019 After yesterday''s disappointing 3Y auction, which was rocked by the rollercoaster swing in markets on a day-old AFP report, moments ago the US Treasury just sold $34BN in 10Y paper (in a reopening of Cusip CDY4) which came just as the FT was sending out fake news that the UAE had reached out to OPEC+ to urge a production boost, which sparked a flash crash in oil and unleashed a new volatility shockwave across assets. And, just like yesterday, today''s auction left a lot to be desired, with the bond stopping at 1.92%, tailing 0.3bps to the 1.917% When Issued, and just above last month''s 1.904% high yield.This was the highest yield on a 10Y auction since July 2019. The Bid to Cover predictably dipped from 2.68 to 2.47, the lowest since December, and below the 6-auction average of 2.53. The internals were also weak, with Indirects taking down 68.2%, down from last month''s solid 77.6%, and below the 70.8% recent average. And with Directs taking down 18.0%, Dealers were left with 13.7% of the auction which however now that QE is over, they will be unable to flip back to the Fed in a few days.

© Reuters. A Russian rouble banknote is seen in front of a descending stock graph in this illustration taken March 1, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) – Global mutual funds and exchange-traded funds with significant exposure to Russian equities and bonds have seen massive outflows and an erosion in their net assets over the past month, …

Dear Madam, Sir,

QE Is Officially Over Earlier today, we reminded readers that as the Fed transitions from QE and perpetual post-covid easing to QT and inflation-battling tightening, today would be the final POMO under the existing QE. Today at 10:10am is the last POMO as QE comes to an official end, if only for a few months. pic.twitter.com/cnBJ096kvI — zerohedge (@zerohedge) March 9, 2022 And sure enough, at 10:30am today, the 20 minutes POMO operation in which the Fed looked to buy $4 billion in bond maturing between 2024 and 2026 came to a close (after $17.4 billion par value in bonds submitted) and with that QE is now officially over (although technically, the NY Fed will be holding mortgage operations running through the end of the week so not really over just yet). QE comes to an end after purchasing nearly $6 trillion of Treasuries and mortgage bonds in the past two years after the onset of the Covid pandemic. As Bloomberg details, the current QE - which we are confident will make a fresh reappearance in a few months just as stocks implode and the economy slides into recession, perhaps alongside the Fed''s direct purchases of stocks and equity ETFs - which included more than 580 separate operations to buy Treasuries and 1,200 to purchase mortgage-backed securities, dwarfed all three of the Fed’s previous quantitative-easing programs combined, helping to grow the central bank’s balance sheet to an unprecedented $8.4 trillion.

(Removes extraneous word from headline) LONDON (Reuters) – The risk of a Russian debt default is turning attention to the insurance policies known as Credit Default Swaps (CDS) that investors take out for this kind of situation.

(Reuters) – Global mutual funds and exchange-traded funds with significant exposure to Russian equities and bonds have seen massive outflows and an erosion in their net assets over the past month, according to investment research firm Morningstar.

https://www.investing.com/news/economy/will-bond-investors-insurance-pay-out-if-russia-defaults-2781311

U.S. stocks rebounded from a four-day selloff as dip buyers wagered the global economic impact of escalating sanctions on Russia is already reflected in market prices. Treasuries and the dollar fell.

Russia’s President Vladimir Putin has signed a law on using the country’s rainy-day National Wealth Fund to buy OFZ government bonds and stocks, the RIA news agency reported on Wednesday. Putin also signed a series of laws enabling a new “capital amnesty” designed to encourage people to return money or financial instruments to Russia without […]

With Russia’s invasion of Ukraine into its second week, the economic fallout is gradually coming into focus.

From intimate relationships to moments of solitude, Jess T Dugan’s images reflect the intense bond that can grow between photographer and subject Continue reading…

The Inspector-General of Police (IGP), Usman Baba has ordered the immediate release of all impounded vehicles at police stations to their owners on bond. The spokesperson for the Police Force, Olumuyiwa Adejobi via a statement on Tuesday said the IGP’s order is part of an effort to make the police stations more presentable. How to claim your vehicle The bond requirement means that vehicle owners who have cases to answer in relation to offences must present themselves and the vehicles in question whenever they are required to do so by law. Continue reading IGP Orders Immediate Release Of Impounded Vehicles at BizWatchNigeria.Ng.

This week Moscow said that its sovereign bond payments may be affected by international sanctions.

Sanctions from the United States and European Union have cut off the Russian central bank’s access to much of its foreign reserves, and there are warnings that Chinese government debt may not be the safest haven.