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

One Key Demand Indicator Turns South

Treasury demand indicators including Primary Dealer Accounts, Foreign Central Banks (FCBs), US Commercial Banks, and US bond funds were mixed in the past week. The only real change and notable item was that foreign central banks were not buyers at the turn of the month Treasury auctions. That’s important.