As broadcast straight from the bowels of 222 Liberty Street, NY, the home of the NY Fed:
Liquidity moves markets!Follow the money. Find the profits!
$1.199B TIPSPurchase 2020-09-23 NYFed treasury securities operations
That was yesterday, settling today.
Here’s some free stuff from my as… uh, my analysis… about this in case you didn’t see yesterday’s post.
And of course, the serious in depth stuff that tells you exactly what to expect, and my opinion on how to approach, life, liberty, and the pursuit of profit.
Composite liquidity continues to rise, but at a slower pace than in the second quarter as the Fed has slowed QE. That reduces the cash flowing into Primary Dealer accounts, which in turn contributes to a slowing in secondary liquidity drivers.
“Slowing” is a relative word, however. Historically, the numbers remain gargantuan.
No, something else is holding the market back. Here’s what that something is, and what we’re going to do about it.
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