With Treasury paydowns ending that week, and the Treasury returning to the market to claw back big chunks of the cash it had injected into dealer and other accounts over the past couple of months, next week’s Fed H41 data should start to reflect that. The Treasury account balance should grow, and bank reserve accounts…
Liquidity Trader – Macro Liquidity- Fed and Banking
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Macroliquidity Pulls Back But Still Trending Up
by Lee Adler • • 0 Comments
Macroliquidity declined last week, but the trend is still positive, although at a much shallower angle than during the years when the Fed was doing QE. The recovery rally in stocks has been a direct result of Treasury paydowns, which was a temporary effect that will now be reversed as the debt ceiling has been…
Lee's Free Thinking, Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader - US Government Revenues, Liquidity Trader - US Treasury Market Trend Supply and Demand, Liquidity Trader Complete, Macroliquidity Monthly, Treasury Supply and Demand Investor Monthly Report, US Federal Revenues Investor Monthly, US Treasury Offerings
The Most Important News Today – Treasury announces 69-Day Bill- The Clawback Begins
by Treasury Offering Announcements • • 0 Comments
This is even more important than the FOMC announcement. Now that the debt limit deal is all but signed, sealed, and delivered, the Treasury will begin to claw back some of the $140 billion in cash it paid to dealers and other investors who held expiring 4 week bills, and maturing 2 year notes that were not rolled over since September 15,
Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader Complete
No Surprise If Market Sells The News of Debt Deal
by Lee Adler • • 0 Comments
In our review of the weekly Fed balance sheet arcana and other banking system data, I take a brief look at the impact of the debt ceiling deal, and why it should be one of the great “sell the news” events of recent years. Follow the money. Find the profits!Liquidity is money. Regardless of where…
Fast Facts, Lee's Free Thinking, Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader Complete
This Liquidity/Sentiment Indicator Shows Little Enthusiasm For This Rally
by Lee Adler • • 0 Comments
The market’s vicious October rally has been lifted on a rising tide of liquidity, with only a tepid rise in bullish attitudes leveraged to that.
Fast Facts, Lee's Free Thinking, Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader Complete
The Fed’s BS (Balance Sheet) Returned To Normal Last Week, Sort of
by Lee Adler • • 0 Comments
The Fed’s liabilities settled down last week after a couple of weeks of wild fluctuations which resulted directly from the Fed encouraging banks to dress up their quarter end balance sheets with Fed RRPs. Now that those shenanigans are done until the end of December, a semblance of normalcy has returned to the balance sheet.
Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader Complete
Liquidity and the Odd October Rally
by Lee Adler • • 0 Comments
The US stock market recently has begun to appear flush with cash again. Dip buyers have returned with a vengeance. The levers and pulleys between the actions of the world’s major central banks may be worn, but it looks like they’re still working. Follow the money. Find the profits!Liquidity is money. Regardless of where in…
Fast Facts, Lee's Free Thinking, Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader Complete
Fed Minutes Are A Waste of Time
by Lee Adler • • 0 Comments
I will no longer comment on the bulk of the FOMC minutes. They focus on the Fed staff’s and FOMC members’ views of the economy and the markets. Why bother with that? The Fed makes policy on an ad hoc basis based on whatever happened in the markets in the weeks immediately prior to the meeting. Forward guidance is therefore meaningless and so analyzing the propaganda about the Fed’s decision process is a waste of time.
Fast Facts, Lee's Free Thinking, Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader Complete
The Cases of The Disappearing Fed Funds Market and the Reappeared Half Trillion
by Lee Adler • • 0 Comments
This is an excerpt of a Pro Trader Weekly Macroliquidity service update. Macroliquidity Pro Trader weekly subscribers (or Professional Edition), click here to download complete report in pdf format. Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually it flows to and through Wall Street. So if…
Liquidity Trader - Macro Liquidity- Fed and Banking, Liquidity Trader Complete
Reverse Repos Went Crazy Last Week On Fed Parlor Tricks
by Lee Adler • • 0 Comments
How pathetic is this bunch of clowns at the Fed. Thanks to a couple of special end of month Reverse Repo operations for window dressing purposes, the Fed put out $450 billion of this silly putty paper so that it would show up on bank and money market fund balance sheets for the September 30,…