There are a dozen bullet points in today’s Treasury Update. Here are the first 5. Month to date tax collections for the period ended June 21 were running way ahead of last year, while outlays were flat, suggesting the economy may be picking up steam again just when the universal consensus was that it was…
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Liquidity Trader, Professional Edition
Macroliquidity Still in Pause In Uptrend
by Newswires • • 0 Comments
The Fed will decide on Wednesday whether, and by how much, it will increase the rate at which it pumps cash through Primary Dealer trading accounts. What it decides will have an impact on how fast stocks are likely to advance, and how soon that advance will end. A new program of QE that adds…
Liquidity Trader, Professional Edition
Headwinds are Building and Bullets are Flying For Treasuries
by Newswires • • 0 Comments
This report presents and discusses a dozen key bullet points for the Treasury market, and indirectly, stocks. Here are the first 5. Suddenly Treasury supply higher than TBAC forecast supply and there are signs that will continue. Indirect bids falling sharply on 4 week bills and long term paper. Foreign and international account purchases at…
Liquidity Trader, Professional Edition
Is Outright Deposit Destruction Next?
by Newswires • • 0 Comments
Watching the slowing deposit drains in the European bank data, I have to wonder whether those who can get their money out have done so. That could be bearish for the US. US liquidity growth has slowed in recent weeks. If the Fed does not take aggressive action to expand its balance sheet next week,…
Charts, Economics, Housing, Housing, Liquidity Trader, Must Read, Professional Edition
Make No Mistake, Housing Is In An Uptrend
by Newswires • • 0 Comments
Builders are only adding about 450,000 single family units per year. Total starts including multifamily over the past 12 months were 653,000. Meanwhile, the US appears to be on pace to add between 1 million and 1.5 million full time jobs this year. (Subscriber login below) The math is clear and shrinking inventories prove it.…
Liquidity Trader, Professional Edition
Liquidity in Four Week Stall, But Still In Uptrend
by Lee Adler • • 0 Comments
The composite liquidity indicator downticked slightly last week on small declines in most of its components. It has been flat since May 2, while remaining in a strong uptrend. We know that the Fed’s pumping to Primary Dealers is in a virtually permanent uptrend, but other indicators may not be. Pauses have been a normal…
Liquidity Trader
Treasury Buying Panic Reaches Major Inflection Point, Whither Yields Go, So Too Stocks
by Lee Adler • • 0 Comments
The Treasury had a heavy calendar last week. The market will face a big Treasury settlement this Thursday as a result. The need to pay for that supply will play a role in the market probably on Tuesday, Wednesday, and possibly Thursday, or with a delayed reaction on Friday. However, balancing that is the ongoing…
Liquidity Trader, Professional Edition
Treasuries Vacuuming Up All Available Liquidity
by Lee Adler • • 0 Comments
The Treasury had a light calendar last week. The market faced a big Treasury settlement on Tuesday but from then until the big end of month settlement of new paper, supply pressure wasn’t, and won’t be, a problem. With fear driving waves of capital into the Treasuries, a downside breakout in yields, and an upside…
Charts, Economics, Lee's Free Thinking, Liquidity Trader, Must Read, Professional Edition
Market’s Liquidity Indicators Begin To Tilt Bearish – With Free Excerpt
by Lee Adler • • 0 Comments
The composite liquidity indicator downticked last week on small declines in most of its components. We know that the downtick in the Fed’s pumping to Primary Dealers is temporary, but the weakening in other indicators may not be. Over the course of this latest surge, most of the cash has been targeted at the Treasury…
Liquidity Trader, Professional Edition
Market Liquidity Trend Still Bullish, But Only Treasuries Get The Benefit
by Lee Adler • • 0 Comments
The composite liquidity indicator rose slightly last week, on slight increases on most of its components. The uptrend in the indicator has continued at a steady pace since it broke out in March. Over the course of this latest surge, most of the cash has been targeted at the Treasury market, with stocks getting only…
