Liquidity Trader Pro Complete

Reports on the Fed and Treasury, primary dealers, foreign central banks, money market and mutual fund flows, and other factors that affect market liquidity. Includes all reports from Federal Revenues Pro Trader, Macroliquidity Pro Trader, and Treasury Supply and Demand Pro Trader. Click here to subscribe. Subscribers, click the post headline to access reports.

Promises Promises – WSE Pro Fed Report

The Treasury announced that tomorrow’s 4 week bill auction would total a stunning $32 billion. The government’s borrowing needs are already outstripping the TBAC’s vastly increased estimates made just 3 weeks ago. The market is relatively unfazed however. T-bill rates rose only modestly as a huge indirect bid showed up at today’s auctions. That suggests…

Fed Takes Back Half

The Fed drained a net of $13.5 billion on Friday in its Open Market Operations. This was a little less than half of yesterday’s gargantuan net add. That left total Fed credit outstanding well above the lows set earlier in the week, but still at the lowest levels in two years. For details see yesterday’s…