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Category: Liquidity Trader – US Government Revenues

Analysis of real time Federal revenues as they signal economic activity and likely changes in Treasury supply. Resulting market strategy recommendations. 8 reports each month. Click here to subscribe. Now published at Lee Adler’s Liquidity Trader.

The Stimulus “Magic Bullet” Is Bearish

Withholding tax collections were relatively stable through November. But the 5 day average ticked a hair below November’s low here in early December. New lows would suggest that December’s jobs data will be awful, which will add to the likelihood of more stimulus, both fiscal and monetary. Whether that’s bullish or not depends on the Fed. The wrong fiscal/monetary balance could ignite a conflagration.

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