The Treasury’s cash account continues to grow on the Fed’s H41, weekly consolidated balance sheet. It hit $422 billion at the end of November. That’s a firebomb waiting to be thrown at the market in the event of a near certainty of a dead ceiling impasse coming in March. That’s when the deal to suspend the ceiling expires.
We are currently operating under a suspended ceiling. Suspended ceiling. Ha ha. Get it?
Ok, not funny, but the idea that it will eventually come crashing down on us isn’t. I’ve covered the likely scenario and how we can trade it profitably in this report.
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