Support the Wall Street Examiner! Choose your level of support to receive a free proprietary report as my thanks. Click the button below to see your options. Become a Patron!

Interesting Times Start Next Week

Terrorists stood on the periphery of the Treasury market this week, waiting to detonate the explosives strapped to their waists if US politicians don’t get their acts together and move toward a compromise that would raise the debt ceiling. It will be an especially tense standoff this week, because on Friday the market must settle $66 billion in net new notes and bonds. That in itself could be enough to light the fuse and send yields toward an upside breakout.

In spite of the fact that very little paper was offered this week, the indirect bid remained weak, suggesting that the foreign central banks still are not pulling their weight. With the market depending on the FCBs and commercial banks to pick up the slack with the Fed out of the game, this is not an encouraging sign. Last week the banks showed even less willingness to buy Treasuries than usual of late. It will be interesting to see what the data has in store along those lines on Friday evening. I’ll update that in the next Fed Report.

As June drew to a close and we got the first couple of days of July under our belts, the withholding tax data showed a bit of a bounce, but in real terms, adjusted for the change in wage levels, tax collections are flat versus last year, suggesting a bleak picture for employment and the economy.

Click here to download complete report in pdf format (Professional Edition Subscribers). including 19 pages of charts and clear, cutting edge analysis that you can use to gain an edge in the market. 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. 30 day risk free trial for new subscribers. Click here for more information.

3 month subscription to the Wall Street Examiner Professional Edition, Money-Liquidity-Real Estate package, renewing automatically unless canceled.

Price: $89.00

By clicking this button, I agree to the Wall Street Examiner’s Terms of Use.

Stay up to date with the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the US market, along with regular updates of the US housing market, in the Fed Report in the Professional Edition, Money Liquidity, and Real Estate Package. Try it risk free for 30 days. Don’t miss another day. Get the research and analysis you need to understand these critical forces. Be prepared. Stay ahead of the herd. Click this link and begin your risk free trial NOW!

Enter your email address in the form to receive email notification when Professional Edition reports are posted.

Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 


Leave a Comment

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