Menu Close
Posted in Latest Business Headlines

Messy Mass of Fed Data Makes Some Sense- Professional Edition

Thursday’s Treasury auctions again showed minor cracks in the façade with a weak indirect bid on the 30 year bond and a smaller indirect bid on the CMB than on last week’s CMB auction. The Treasury announced next week’s schedule, and it appears that new supply next week will be around $30 billion, up from just $1 billion this week. The light calendar of new supply this week helped to put a bid under stock prices. Next week there will be a little more pressure.

The Fed released its H41 report after the close, along with data on Commercial Paper and Primary Dealer holdings. Apparently the Fed is still doing its utmost to sterilize the bailout programs, but this week it appears that they added net cash of about $20 billion to the system. That was only enough to offset what looks like a similar amount drained last week. The flood of money printing that has been predicted by some isn’t happening yet. Until it does, any rally in the stock market should be short lived.

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.

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.