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

Light Treasury Supply Puts Wind In Market Sails

Light Treasury supply continues to put the wind at the market’s back. Stocks continue to get the benefit, but the performance of the Treasury market has been lackluster, suggesting that without the Fed buying a big chunk of government issuance every month the bond market is likely to experience more persistent pressure than it has…