Bernanke Speaks, 10-Yr Parties

The sound of silence waned yesterday as the soothing song of Big Ben Bernanke’s voice brought the Bernankular movement back to the forefront of our minds. Bernanke affirmed yesterday that if a “consensus” can be agreed upon, he will support a specific inflation target. Greenspeakers had planned a mass protest on Capital Hill but most potential demonstrators misinterpreted the garbled directions and instead various dinner parties, games of taboo and bocce ball tournaments were held in homes and public parks across the United States instead.

The 10-yr Note rallied on the news and could be seen binge drinking, receiving lap dances and getting indecent with trading assistants on floors across the globe. We caught up with one particularly active 10-yr while passing through the CBOT, “I told my yield to drop it like it’s hot. I am the curve! Bow before me!! KEG STANDS!!! RALLY ON!!!”

The 28 year drift between the 2-yr and the 30-yr has apparently flattened as they attempt to reconcile the difference that spread them apart in order to correct the hedonistic behavior of the unruly 10-yr, “if someone doesn’t stop this, our whole world will be inverted.”

Jay declared that yesterday was the first time something understandable was shown on C-Span.