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.

Fed Policy Resusbstantiation Rally May Be Preempted

Fed and US Treasury injections of extra cash into the market via Fed MBS purchase settlements and temporary Treasury debt paydowns often tend to coincide with FOMC meetings.  We have seen this phenomenon so much that it would appear to be deliberate. Most of the time it results in a 2-3 day rally immediately on the heels of the FOMC announcement.

Withholding Tax Collections Weaken, Setting Up Possible Double Barreled Crisis

Growth in withholding tax collections continued to recede in in the second week of September as the government facts another crisis over the debt ceiling. This report looks at the implications for the markets. You can now subscribe to the Federal Revenues Report on a standalone monthly or weekly basis.

US Bank Deposits Have Soared While Europe’s Sank Since ECB Started QE

The Fed’s balance sheet was little changed last week as there were no MBS paydowns, nor purchase settlements. There were no term deposits offered and RRPs outstanding were little changed. Meanwhile, there’s no sign of deleveraging in the US banking system as loan growth continually exceeds 7%. Money supply grows apace. But in Europe, QE…

What You Must Know About Fed Minutes And Emanations From Jackson’s Hole

Composite Liquidity Indicator

This post is an excerpt from the Pro Trader and Monthly Investor MacroLiquidity report. Subscriber links are below the text. The FOMC meeting minutes are a key instrument of official Fed propaganda. They show how the Fed wants you to view policy. There’s some useful information there, but it’s not what the Fed says it…