The storm warnings of extreme dealer leverage have dissipated over the past two months. For the moment, the skies are only partly cloudy with a…
“Sell in May and go away,” looks like a good idea again this year. The time has come. The time is now. Here’s why. Non-subscribers,…
Forget the modest increase in jobs reported by the BLS. Withholding tax collections were strong in April. The US Treasury is flush with more cash…
Bulletin- Fed Cuts QT by $35 billion per month. This is irrelevant and immaterial in the face of the mushrooming Treasury supply ahead. Read on!…
There were more signs in last week’s banking and Fed balance sheet data that the market has begun to build an important top. But tops…
That’s because they’re early, and an intervening temporary force should drive xxxx xxxx xxxxx. Non-subscribers, click here for access. Subscribers, click here to download the…
Withholding tax collections looked very strong for March, at first glance. But there was a one day anomaly in the data that skewed the monthly…
The Fed’s weekly real time balance sheet data and its slightly lagged data on the condition of the US banking system have flashed warning signs…
Or maybe it is. The Fed’s weekly real time balance sheet data and its slightly lagged data on the condition of the US banking system…
The dealers just set a new record extreme of leverage against their bond positions at the end of February. Then they sharply pulled in their…
