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'Things Aren’t Falling Apart, But' – Dismal Auto Sales Unleash Treasury Rally

So it’s been readily apparent for at least two years that the US auto sales “miracle” wasn’t sustainable and that, at least to a certain degree, some the “renaissance” was attributable to subprime lending.

Currently, there are all kinds of questions about whether subprime auto paper is the next “Big Short.” For her part, Citi’s Mary Kane has been on a one-woman crusade to dispel that notion for as long as I can remember. If you’re in need of some Tuesday comic relief, you’re encouraged to check out the Mary Kane...