Money and The Fed

Reports on the Fed and Treasury, primary dealers, foreign central banks, money market and mutual fund flows, and other factors that affect market liquidity

Magnificent Market Meltup Cakewalk

The magnificent market meltup marched on. The target could be the uptrend line forming the upper line of a broadening pattern at 2040, or it could be the 6-7 and 8 week cycle projections or the 13 week cycle projection that is even higher. Here’s what the data suggests now.

Federal Tax Collections Rebounded This Week

The Federal Government’s withholding tax collections have rebounded over the past week. This continues the usual pattern of quarterly fluctuations. The annual growth rate this week was around 4.7% in nominal terms and probably 2.2-2.7% in real terms. This report illustrates the trends, and covers the particulars and the implications for Treasury supply and the…