NY Empire State Manufacturing Index in the United States decreased to 6.30 points in November from 10.50 points in October of 2020. NY Empire State Manufacturing Index in the United States averaged 7.88 points from 2001 until 2020, reaching an all time…
US 5 Year Note Bond Yield was 0.42 percent on Monday November 16, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the United States 5 Year Note Yield reached an all time high of 16.27 in September o…
US 3 Month Bill Bond Yield was 0.09 percent on Monday November 16, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the United States 3 Month Bill Yield reached an all time high of 13.99 in March of …
US 2 Year Note Bond Yield was 0.18 percent on Monday November 16, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the United States 2 Year Note Yield reached an all time high of 16.95 in September o…
US 52 Week Bill Bond Yield was 0.12 percent on Monday November 16, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the United States 52 Week Bill Yield reached an all time high of 17.31 in September…
Cyclically, there’s no reason to get bearish here. Cycles of up to 6 months duration remain in gear to the upside. A 4 week cycle high is due now, but it won’t matter if the 6-8 week cycle is dominant. Here are the price targets and theoretical timing of these expected moves.
Are You Kidding Me?
Can this be right? Did the stock market become oversold in mid October versus Composite Liquidity. This chart said that it did. And even after this huge 2 week rally, it’s still much closer to oversold than overbought. The S&P 500 is still near the bottom of the liquidity band.
It’s very similar to a look it had in July 2011. That preceded 4 years of a relentless, virtually unbroken bullish string.
What should cause us to expect change?
How could that be? I’m putting the finishing touches on a report that explains it, to be posted in Liquidity Trader in two parts. The first will be up early this morning, and the second a bit later this afternoon.
Meanwhile, back at the daily funhouse..
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Release straight from the bowels of the NY Fed