Treasury Supply and Demand Pro Trader

Analysis of new Treasury supply and major demand market segments to estimate market liquidity impacts for bonds and stocks. Available to subscribers to the weekly Treasury Supply and Demand Weekly. Click here to subscribe. Subscribers, click the post headline to access reports.

Worst Liquidity Conditions Since 2008 Coming to a Market Near You

The Treasury issued $152 billion of net new supply in November. Surprisingly that did not cause a drop in stock and bond prices. Instead, dealers and speculators increased their short term borrowing that normally finances bond purchases, and instead shifted the cash to stocks. This is borrowing from the future for speculative profit today. These…

Fed Gets Real With the Boa Constrictor Approach to Tightening

This is a special report for all subscribers to Macro Liquidity, Federal Revenues and Treasury Pro Trader subscribers.  Back on April 18, I wrote: By late this year the Fed may have begun to implement its proposed policy of “normalizing” the balance sheet. That’s a nice way of saying “shrinking” the balance sheet. To do…