Thursday was the first day where the Fed actually appeared to be pushing money rates lower (See Fed Report), but the market was apparently out of rocket fuel and it stalled. There was more bad liquidity news after the close when the Fed revealed that foreign central banks were again sellers of Treasuries, dumping $14 billion. The Wall Street Examiner’s FCB indicator continues to nosedive. The chart and analysis will be posted in Friday’s Fed Report. Click here to download complete report in pdf format (Professional Edition Subscribers).Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
