The Price of Perfect Nihilism 

US commandos accompanied and assisted Ecuadorian soldiers on raids targeting suspected cartels.  Two US officials speaking with CBS News confirmed that US special forces were participating in the Ecuadorian operations. They explained that the US soldiers accompanied their Ecuadorian counterparts and provided assistance. The operations targeted sites with suspected ties to Los Choneros.  In March, […]

10Y Auction Tails As Foreign Demand Dips After yesterday's impressive 3Y auction, moments ago the Treasury sold $39 billion in benchmark, 10Y paper, in what was a mediocre auction. The auction, a 9-Year 10-Month reopening of cusip CPX8, stopped at a high yield of 4.282%, up from 4.217% last month and the highest since last August. It also tailed the When Issued 4.280% by 0.2bps, the third consecutive tail in a row. The bid to cover dipped to 2.429 from 2.449, and was also below the six-auction average of 2.48. The internals also...

Leftists sarcastically asking where the money for this war will come from are right about the GOP’s hypocrisy, but wrong to imply that it actually means there's plenty to spend on all these government programs. We can’t afford any of this.