Withholding Taxes and Treasury Cash Drive For Five

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The growth rate of current Federal Withholding tax collections as reported in real time, approached 5% in real terms and the Federal Government’s cash account neared a gargantuan $500 billion in October. Other tax data also showed gains. Here’s what this means for the stock and bond markets, and for Friday’s jobs data in particular.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also provide analysis and charts for David Stockman's Contra Corner which I developed for Mr. Stockman. I’ve had a wide variety of finance related jobs in the past 44 years, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today. 

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