Treasury yields fell to a key resistance level, and then rebounded sharply to break a 6 month downtrend line this week. It’s too early to…
Deposit flows into US banking system (apparently from EU) continue at shocking levels. In the liquidity model of the market, there is no way the…
The Treasury rally got some help this week from a surge in Federal Withholding Tax collections that is helping to keep new supply down. Whereas…
Treasury supply is moderating as a result of a surge in Federal Withholding Tax collections in the second half of December. I suspect that this…
The mad panic into Treasuries suddenly stopped this week. 1.80 on the 10 year yield looks like a floor. The question now is whether there’s…
Liquidity indications were mixed last week, with the Fed still not doing much while foreign central banks were net sellers (see Treasury update). Commercial banks…
Liquidity indications were mixed this week, with the Fed still not doing much while foreign central banks were net sellers (see Treasury update). Commercial banks…
Withholding tax data suggests that we may soon see weaker economic data. That would argue for lower yields and lower stock prices. Meanwhile, foreign central…
Liquidity indications were mixed this week, with the Fed still not doing much but bank inflows ballooning. This has been the biggest reason the markets…
Foreign central bank (FCB) buying of Treasuries was again heavy this week, two weeks after hitting a record level. Their buying binge of recent weeks…
