A bifurcated US economy will keep the top line economic data positive. Here’s why that’s important, and bearish.
Withholding and excise tax collections soared in December. There’s no recession on the horizon. This report explains why this isn’t bullish, and tells you what…
Withholding tax collections plunged in the second half of November. This not only broke the year long uptrend in withholding, but has established a downtrend.…
current data continues to reflect patchy growth. The top line numbers are strong, but there’s evidence of weakness in some areas. It appears that top…
Strong federal tax collections for October and through early November will encourage the Fed to keep tightening. That’s bearish. Markets top out when the news…
Withholding tax collections have continued to surge right up to this week, but other taxes are weakening. The pattern suggests that the highest earners are…
Tax collections cooled in August after a strong July, but comparisons were misleading. Here’s why and what it means for the markets.
Data from the US Treasury’s Daily Treasury Statement for July showed that tax collections were strong again. The lagging economic data releases should follow this…
It’s boom time again in America. The tax data for June tells us that animal spirits have returned. Data from the US Treasury’s Daily Treasury…
This is a special report for all subscribers to Macro Liquidity, Federal Revenues and Treasury Pro Trader subscribers. Back on April 18, I wrote: By…
