The Treasury again sold less debt than forecast and next week’s calendar will also be lighter than forecast. This trend could last through the balance of January, and possibly into the first or second week of February based on the rate at which the Treasury has been depleting its cash. That cash will get a boost from the January 15 tax collections, but the factors which caused the unusual cash buildup probably will not be repeated. At the same time, there’s little evidence that tax revenues are stabilizing. That means that at some point Treasury supply will again build to extremely high levels. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
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