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	<title>The Wall Street Examiner &#187; Money and The Fed</title>
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	<description>Be prepared. Stay ahead of the herd.</description>
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		<title>Treasury Market Panic Reversal Due To Little Known Forces Called Supply and Demand</title>
		<link>http://wallstreetexaminer.com/2012/02/09/treasury-market-panic-reversal-due-to-little-known-forces-called-supply-and-demand/</link>
		<comments>http://wallstreetexaminer.com/2012/02/09/treasury-market-panic-reversal-due-to-little-known-forces-called-supply-and-demand/#comments</comments>
		<pubDate>Thu, 09 Feb 2012 23:36:44 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[Bailout]]></category>
		<category><![CDATA[Beneficial Impact]]></category>
		<category><![CDATA[Bulge]]></category>
		<category><![CDATA[Cmb]]></category>
		<category><![CDATA[Economic News]]></category>
		<category><![CDATA[Federal Tax Revenues]]></category>
		<category><![CDATA[Hedge Fund]]></category>
		<category><![CDATA[Market Panic]]></category>
		<category><![CDATA[Misunderstanding]]></category>
		<category><![CDATA[Piling]]></category>
		<category><![CDATA[Predominant Position]]></category>
		<category><![CDATA[Selloff]]></category>
		<category><![CDATA[Selloffs]]></category>
		<category><![CDATA[Shelf Life]]></category>
		<category><![CDATA[Surprise Announcement]]></category>
		<category><![CDATA[Thursday Morning]]></category>
		<category><![CDATA[Treasuries]]></category>
		<category><![CDATA[Treasury Market]]></category>
		<category><![CDATA[Unemployment Claims]]></category>
		<category><![CDATA[Withholding Taxes]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=72654</guid>
		<description><![CDATA[The Treasury market panic saw a bit of a reversal this week, partly due to an unexpected, large increase in supply because of a sharp drop in Federal tax revenues over the past couple of weeks, and partly due to the market misunderstanding of Thursday morning’s news. The “better than expected” weekly unemployment claims data was one thing. (http://wallstreetexaminer.com/2012/02/09/economists-surprised-again-by-unemployment-claims-but-they-should-not-have-been/). Some piling on the “risk on” trade as a result of news of a deal for another Greek bailout, was another. But we are more interested in the more esoteric and little known drivers of prices, such as “supply” and “demand.” The short term kneejerk reactions of hedge fund traders to news “don’t impress me much.” For one thing, today’s news has a shelf life of about 20 seconds. Likewise, traders are prone to misinterpreting “news” depending on their currently predominant position. Since the boat is loaded long Treasuries, any “good” economic news triggers a one day selloff. When those selloffs come within the bounds of a trading range, they’re nothing more than noise. To confirm a reversal in Treasuries we need a bona fide breakout. First, the 10 year yield needs to break 2.10, and then it needs to break [...]]]></description>
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		<item>
		<title>Liquidity Composite Still Bullish</title>
		<link>http://wallstreetexaminer.com/2012/02/06/liquidity-composite-still-bullish/</link>
		<comments>http://wallstreetexaminer.com/2012/02/06/liquidity-composite-still-bullish/#comments</comments>
		<pubDate>Mon, 06 Feb 2012 17:08:13 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[3 Month]]></category>
		<category><![CDATA[Banks In The Us]]></category>
		<category><![CDATA[Central Banks]]></category>
		<category><![CDATA[Critical Forces]]></category>
		<category><![CDATA[Cutting Edge]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Free Trial]]></category>
		<category><![CDATA[Herd]]></category>
		<category><![CDATA[Liquidity]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Money]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Risk]]></category>
		<category><![CDATA[Subscribers]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Treasury]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=72172</guid>
		<description><![CDATA[Liquidity indicators were mixed last week, but overall they remain firm, with trend indications split between bullish and neutral. Click here to download complete report in pdf format (Professional Edition Subscribers) including 94 pages of charts and clear, cutting edge analysis that you can use to gain an edge in the market. Try the Professional Edition risk free for thirty days. If, within that time, you don&#8217;t find the information useful, I will give you a full refund. It&#8217;s that simple. 30 day risk free trial for new subscribers. Click here for more information. 3 month subscription to the Wall Street Examiner Professional Edition, Money-Liquidity-Real Estate package, renewing automatically unless canceled. Price: $89.00 By clicking this button, I agree to the Wall Street Examiner&#8217;s Terms of Use. Stay up to date with the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the US market, along with regular updates of the US housing market, in the Fed Report in the Professional Edition, Money Liquidity, and Real Estate Package. Try it risk free for 30 days. Don&#8217;t miss another day. Get the research and analysis you need to understand these critical forces. Be prepared. Stay ahead of the [...]]]></description>
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		<title>Bulls In Clover While TBAC Is Smoking Dope As Usual</title>
		<link>http://wallstreetexaminer.com/2012/02/02/bulls-in-clover-while-tbac-is-smoking-dope-as-usual/</link>
		<comments>http://wallstreetexaminer.com/2012/02/02/bulls-in-clover-while-tbac-is-smoking-dope-as-usual/#comments</comments>
		<pubDate>Fri, 03 Feb 2012 02:47:17 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[3 Month]]></category>
		<category><![CDATA[Bedlam]]></category>
		<category><![CDATA[Bond Fund]]></category>
		<category><![CDATA[Central Banks]]></category>
		<category><![CDATA[Cough Cough]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Last Tuesday]]></category>
		<category><![CDATA[Liquidity]]></category>
		<category><![CDATA[Lows]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Market Panic]]></category>
		<category><![CDATA[Sheer Panic]]></category>
		<category><![CDATA[Skids]]></category>
		<category><![CDATA[Slow Motion]]></category>
		<category><![CDATA[Tbac]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Treasury Market]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wad]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=71840</guid>
		<description><![CDATA[The Treasury market panic continued this week, with yields heading for new lows, thanks partly to a return of central banks to the table at a modest level, but mostly due to a ratcheting up of public buying. Bond fund inflows hit a record last week. It’s sheer panic. Bedlam. The panic atmosphere has been helped along by reduced supply. Once last Tuesday’s big settlement (but less than originally forecast) was out of the way, the market just idled as the paper was digested. Supply settling next week will be extremely low, in fact, there should be a minor paydown. Then the mid month settlement will be well below the norm for note and bond settlements. Considering that the Fed usually settles a big wad of its forward MBS purchases at mid month, the skids will be greased and supply will be reduced. There will be more than enough cash to go around. That will be a recipe for more buying of those “fortress balance sheet equities” (cough, cough), so the slow motion meltup will be spurred on, probably for most of February. Click here to download complete report in pdf format (Professional Edition Subscribers) including 21 pages of charts [...]]]></description>
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		<title>Market Fueled By Huge Rumored ECB Print Job And Corporate Fortress BS</title>
		<link>http://wallstreetexaminer.com/2012/01/30/market-fueled-by-huge-rumored-ecb-print-job-and-corporate-fortress-bs/</link>
		<comments>http://wallstreetexaminer.com/2012/01/30/market-fueled-by-huge-rumored-ecb-print-job-and-corporate-fortress-bs/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 01:08:06 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[3 Month]]></category>
		<category><![CDATA[Bond Prices]]></category>
		<category><![CDATA[Central Banks]]></category>
		<category><![CDATA[Critical Forces]]></category>
		<category><![CDATA[Cutting Edge]]></category>
		<category><![CDATA[Ecb]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Financial Times]]></category>
		<category><![CDATA[Fortress]]></category>
		<category><![CDATA[Herd]]></category>
		<category><![CDATA[Liquidity]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Refinancing]]></category>
		<category><![CDATA[Selloff]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Treasuries]]></category>
		<category><![CDATA[Trillion]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=71435</guid>
		<description><![CDATA[Liquidity indicators backed off slightly from their recent strength last week, but overall they remain firm. I see no reason to expect either a big selloff or a big move higher in either stock or bond prices. The rangebound behavior of the markets shouldn’t change, except for one thing. The rumors are that the banks will hit up the ECB for another trillion at the next ECB long term refinancing operation. The Financial Times is out with a story this evening that the banks will borrow a cool trillion at the ECB’s next long term lending operation on February 29. A trillion. Needless to say, there are those who are and will be front running that cash bomb by buying both US Treasuries and stocks looking for the big payoff when that money hits the Street and starts walking around in early March. Click here to download complete report in pdf format (Professional Edition Subscribers) including 97 pages of charts and clear, cutting edge analysis that you can use to gain an edge in the market. Try the Professional Edition risk free for thirty days. If, within that time, you don&#8217;t find the information useful, I will give you a [...]]]></description>
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		<title>The Mighty Ben</title>
		<link>http://wallstreetexaminer.com/2012/01/27/the-mighty-ben/</link>
		<comments>http://wallstreetexaminer.com/2012/01/27/the-mighty-ben/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 05:35:56 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[3 Month]]></category>
		<category><![CDATA[Bill Gross]]></category>
		<category><![CDATA[Breakout]]></category>
		<category><![CDATA[Carry Trade]]></category>
		<category><![CDATA[Central Banks]]></category>
		<category><![CDATA[Cutting Edge]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Leverage]]></category>
		<category><![CDATA[Liquidity]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Rally]]></category>
		<category><![CDATA[Spite]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Treasuries]]></category>
		<category><![CDATA[Treasury Auctions]]></category>
		<category><![CDATA[Treasury Yields]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wad]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=71024</guid>
		<description><![CDATA[Treasury yields reached the top of the recent range and appeared headed for a breakout when along came Ben, with his mighty arms outstretched he lifts up the playing field and tilts it, and back down yields went, in spite of the big week of Treasury auctions and the market facing a big wad of new paper to settle next week. It didn’t matter. Ben gave the all clear on the carry trade for 3 more years, although I don’t know how much carry you can get when 10 year yields are less than 2%. I guess if you use enough leverage… We know this is going to blow up sooner or later. All we can do is watch the chart for signs. For now, the trading range that looks like a bottom in yields is intact. And so is the idea that the Fed at least, can make the market do what it wants, when it wants. But I heard that Bill Gross is loading up on Treasuries again, after missing, or being short, through the whole rally. If that’s not a sell signal, what is? Click here to download complete report in pdf format (Professional Edition Subscribers) including [...]]]></description>
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		</item>
		<item>
		<title>Liquidity Is Bullish Is All</title>
		<link>http://wallstreetexaminer.com/2012/01/21/liquidity-is-bullish-is-all/</link>
		<comments>http://wallstreetexaminer.com/2012/01/21/liquidity-is-bullish-is-all/#comments</comments>
		<pubDate>Sat, 21 Jan 2012 17:34:21 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[3 Month]]></category>
		<category><![CDATA[Central Banks]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Excrement]]></category>
		<category><![CDATA[Foolishness]]></category>
		<category><![CDATA[Liquidity]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Manipulation]]></category>
		<category><![CDATA[Manipulators]]></category>
		<category><![CDATA[Mayhem]]></category>
		<category><![CDATA[Personal Bias]]></category>
		<category><![CDATA[Pundits]]></category>
		<category><![CDATA[Rest Of The World]]></category>
		<category><![CDATA[Sinks]]></category>
		<category><![CDATA[Sludge]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Unintended Consequences]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=70352</guid>
		<description><![CDATA[Those who don’t know me well have sometimes accused me of being a permabear. Those of you who do know me via these reports know that I always strive to be just like Faux News, “fair and balanced.” I think this week’s report exemplifies that high ideal. It’s as bullish as I’ve ever been, and yes maybe I should be faded when I start “pounding the table” like this. But I’m only pounding on what the indicators are showing. There’s certainly no personal bias in this direction. My bias is only to follow the indicators, regardless of what mayhem or foolishness they may be pointing toward. I don’t like this, but it is what it is. The world financial system is an over manipulated piece of excrement. But sometimes manipulation works; sometimes it has unintended consequences that benefit one party over another; and sometimes the US gets the roses while the rest of the world sinks into the sludge that most of the pundits and government manipulators are worried about. This is one of those times, and herein is its story. Click here to download complete report in pdf format (Professional Edition Subscribers) including 95 pages of charts and clear, [...]]]></description>
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		<item>
		<title>Hints of Sea Change In Treasury Market</title>
		<link>http://wallstreetexaminer.com/2012/01/19/hints-of-sea-change-in-treasury-market/</link>
		<comments>http://wallstreetexaminer.com/2012/01/19/hints-of-sea-change-in-treasury-market/#comments</comments>
		<pubDate>Fri, 20 Jan 2012 01:27:07 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[3 Month]]></category>
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		<category><![CDATA[Critical Forces]]></category>
		<category><![CDATA[Cutting Edge]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Free Trial]]></category>
		<category><![CDATA[Herd]]></category>
		<category><![CDATA[Liquidity]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Resistance Level]]></category>
		<category><![CDATA[Risk]]></category>
		<category><![CDATA[Sea Change]]></category>
		<category><![CDATA[Subscribers]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Treasury Market]]></category>
		<category><![CDATA[Treasury Yields]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=70200</guid>
		<description><![CDATA[Treasury yields fell to a key resistance level, and then rebounded sharply to break a 6 month downtrend line this week. It’s too early to call a turn, but the fact that it happened during a week when Treasury supply was non-existent—actually there was a paydown—and when foreign central banks showed up and actually did a little buying, suggests that this week’s action may be a hint of a sea change in progress. Click here to download complete report in pdf format (Professional Edition Subscribers) including 19 pages of charts and clear, cutting edge analysis that you can use to gain an edge in the market. Try the Professional Edition risk free for thirty days. If, within that time, you don&#8217;t find the information useful, I will give you a full refund. It&#8217;s that simple. 30 day risk free trial for new subscribers. Click here for more information. 3 month subscription to the Wall Street Examiner Professional Edition, Money-Liquidity-Real Estate package, renewing automatically unless canceled. Price: $89.00 By clicking this button, I agree to the Wall Street Examiner&#8217;s Terms of Use. Stay up to date with the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the [...]]]></description>
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		<item>
		<title>Casino of The Absurd</title>
		<link>http://wallstreetexaminer.com/2012/01/17/casino-of-the-absurd/</link>
		<comments>http://wallstreetexaminer.com/2012/01/17/casino-of-the-absurd/#comments</comments>
		<pubDate>Tue, 17 Jan 2012 15:12:23 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[3 Month]]></category>
		<category><![CDATA[Banking System]]></category>
		<category><![CDATA[Brakes]]></category>
		<category><![CDATA[Central Banks]]></category>
		<category><![CDATA[Clam]]></category>
		<category><![CDATA[Critical Forces]]></category>
		<category><![CDATA[Cutting Edge]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Free Trial]]></category>
		<category><![CDATA[Herd]]></category>
		<category><![CDATA[Jawbone]]></category>
		<category><![CDATA[Liquidity Model]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Money Supply]]></category>
		<category><![CDATA[Shocking Levels]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Treasury]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=69677</guid>
		<description><![CDATA[Deposit flows into US banking system (apparently from EU) continue at shocking levels. In the liquidity model of the market, there is no way the markets can decline as long as this continues. Meanwhile, the Fed continues to quietly tap the brakes, without explanation or comment, while the US money supply explodes. The Fed is transparent only when attempting to jawbone the market higher. Anything that might run counter to that, it shuts up tight as a clam. Click here to download complete report in pdf format (Professional Edition Subscribers) including 95 pages of charts and clear, cutting edge analysis that you can use to gain an edge in the market. Try the Professional Edition risk free for thirty days. If, within that time, you don&#8217;t find the information useful, I will give you a full refund. It&#8217;s that simple. 30 day risk free trial for new subscribers. Click here for more information. 3 month subscription to the Wall Street Examiner Professional Edition, Money-Liquidity-Real Estate package, renewing automatically unless canceled. Price: $89.00 By clicking this button, I agree to the Wall Street Examiner&#8217;s Terms of Use. Stay up to date with the machinations of the Fed, Treasury, Primary Dealers and [...]]]></description>
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		<title>European Panic Sweeps 700 Pound Gorilla Under The Rug</title>
		<link>http://wallstreetexaminer.com/2012/01/13/european-panic-sweeps-700-pound-gorilla-under-the-rug/</link>
		<comments>http://wallstreetexaminer.com/2012/01/13/european-panic-sweeps-700-pound-gorilla-under-the-rug/#comments</comments>
		<pubDate>Fri, 13 Jan 2012 22:49:53 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
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		<category><![CDATA[Capital Flight]]></category>
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		<category><![CDATA[Consecutive Weeks]]></category>
		<category><![CDATA[Cutting Edge]]></category>
		<category><![CDATA[Downgrades]]></category>
		<category><![CDATA[Edge Analysis]]></category>
		<category><![CDATA[Federal Withholding Tax]]></category>
		<category><![CDATA[Liquidity]]></category>
		<category><![CDATA[Machinations]]></category>
		<category><![CDATA[Pound Gorilla]]></category>
		<category><![CDATA[Spite]]></category>
		<category><![CDATA[Tax Collections]]></category>
		<category><![CDATA[Thirty Days]]></category>
		<category><![CDATA[Treasury Market]]></category>
		<category><![CDATA[Treasury Yields]]></category>
		<category><![CDATA[Us Housing Market]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Withholding Taxes]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=69394</guid>
		<description><![CDATA[The Treasury rally got some help this week from a surge in Federal Withholding Tax collections that is helping to keep new supply down. Whereas new supply had been exceeding TBAC estimates for the past couple of months, it has come back in line with estimates, and could be reduced even further in the weeks ahead if the sudden growth of withholding taxes persists. In addition to reduced supply, a renewal of the European panic with Friday’s S&#038;P sovereign downgrades has Treasury yields again melting down, in spite of the fact that foreign central banks continue to sell their holdings. Another way of looking at it is that this buying panic is allowing FCBs to liquidate without destabilizing the market, which otherwise probably would have happened. The string of FCB selling has now reached 6 consecutive weeks which is unprecedented and suggests a structural change as central banks need to deploy funds at home. That problem for the US can be swept under the rug as long as Europe’s problems are bigger and the resulting capital flight boosts the Treasury market. Click here to download complete report in pdf format (Professional Edition Subscribers) including 19 pages of charts and clear, [...]]]></description>
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		<item>
		<title>Housing Fundamentals Improved, But Not Enough</title>
		<link>http://wallstreetexaminer.com/2012/01/12/housing-fundamentals-improved-but-not-enough/</link>
		<comments>http://wallstreetexaminer.com/2012/01/12/housing-fundamentals-improved-but-not-enough/#comments</comments>
		<pubDate>Fri, 13 Jan 2012 01:32:37 +0000</pubDate>
		<dc:creator>Lee Adler</dc:creator>
				<category><![CDATA[Economic and Financial]]></category>
		<category><![CDATA[Housing]]></category>
		<category><![CDATA[Money and The Fed]]></category>
		<category><![CDATA[Professional Edition]]></category>
		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[Banking System]]></category>
		<category><![CDATA[Confidence In The System]]></category>
		<category><![CDATA[Current Market]]></category>
		<category><![CDATA[Decline]]></category>
		<category><![CDATA[Employment]]></category>
		<category><![CDATA[Game]]></category>
		<category><![CDATA[House Prices]]></category>
		<category><![CDATA[Inventory Problem]]></category>
		<category><![CDATA[Real Time]]></category>
		<category><![CDATA[Time Listings]]></category>
		<category><![CDATA[Walking Corpse]]></category>
		<category><![CDATA[Wh]]></category>
		<category><![CDATA[Willing Buyers]]></category>

		<guid isPermaLink="false">http://wallstreetexaminer.com/?p=69265</guid>
		<description><![CDATA[Housing data in the past couple of months has been mixed. Lagging closed sales data shows prices declining. The problem with that is that the most current data represents sales closed in November, which for the most part were sales that went under contract in September. That tells us nothing about the current market. Real time listings data, which over time has correlated well with subsequently reported sales data is actually up on a year over year basis, suggesting that the decline in prices may have ended, at least for the time being. What is driving that is not an increase in demand. Most demand markers remain extremely weak. The number of willing buyers may have increased, but huge numbers of sales are falling through because of problems with financing. And while there are hints that the employment picture may be improving, employment has not improved enough to cause a sustained increase in demand that would lead to rising house prices. The supply of existing houses on the market has been radically reduced, but builders continue to build. As a result, there’s no evidence of any real improvement in the supply demand imbalance. That being said, the shadow inventory problem [...]]]></description>
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