Federal revenues fell in October for the first time since February. And outlays rose, widening the deficit. The Fed raised its ante in response. Here’s what this means and what you should do about it.
Liquidity Trader – US Government Revenues
Analysis of real time Federal revenues as they signal economic activity and likely changes in Treasury supply. Resulting market strategy recommendations. 8 reports each month. Click here to subscribe. Now published at Lee Adler’s Liquidity Trader.
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In the Bowels of Government Finance: US Government Defecates – Fed May Lose Control
by Lee Adler • • 0 Comments
The US Treasury daily tax data showed weak revenue and soaring outlays in October. The deficit is soaring, but the Fed is monetizing every penny…
Liquidity Trader - US Government Revenues
How Much QE Will Be Enough For Explosive Defecating Deficit?
by Lee Adler • • 0 Comments
The US Treasury daily tax data suggests that the US economy is at least slowing. That means already yooge deficits will grow. Treasury supply will…
Liquidity Trader - US Government Revenues
Treasury Supply Recedes, But Here’s Why The New Normal Is Scary
by Lee Adler • • 0 Comments
Net new Treasury supply is receding to the “new normal,” averaging around $100 billion per month. We know we have a problem when a hundred…
Liquidity Trader - US Government Revenues
The US Economy No Longer Matters – It’s The Debt, Stupid!
by Lee Adler • • 0 Comments
The game has changed radically in the past two weeks, so it does not matter one iota what the economy is doing. It’s the debt,…
Liquidity Trader - US Government Revenues, Liquidity Trader Complete
Who’s Paying to Suppress Jobs Number as Withholding Tax Collections Soar?
by Lee Adler • • 0 Comments
Withholding taxes soared for most of August, far in excess of indicated jobs growth. But the Treasury hasn’t even started to rebuild its cash account. Here’s what that means.
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Hurricane Dorian Publication Note
by Lee Adler • • 0 Comments
One thing I learned years ago as a Florida resident running an online business is that I don’t want to stick around to see if…
Liquidity Trader - US Government Revenues
Still No Sign of Recession in Current Federal Tax Data
by Lee Adler • • 0 Comments
Our purpose here is to examine Federal revenues and spending for any sign that the Fed would have any justification for a policy move. And…
Liquidity Trader - US Government Revenues, Liquidity Trader Complete
July Tax Collection Data Still Solid – Aye, There’s The Rub!
by Lee Adler • • 0 Comments
Total tax collections rose in July, as did most components, including withholding. If the economy is materially weakening, it’s not showing up in real time…
Liquidity Trader - US Government Revenues
Federal Budget Deficit Simultaneously Stimulating and Eviscerating Won’t End Well
by Lee Adler • • 0 Comments
They kicked the can into July, but it was there for all to see. Here’s what it means for your investment strategy. Subscribers, click here…
