The composite liquidity indicator fell sharply last week. There was some distortion to the indicator the previous week when the Fed’s SOMA fell due to…
The FCB buying binge of recent weeks pumped plenty of excess cash into US markets, and the market partied on in spite of the fact…
Housing data over the past month has weakened. Part of that is normal seasonality, but the drop in contracts on existing homes in September was…
Earlier I posted this piece on the facts that we know about the big withdrawal from the Fed last week and the atypical Fed actions…
Europe slid down a Greece slope and the MF’er Corzine blindsided investors, but a record increase in foreign central bank buying and a renewed Treasury…
With liquidity flat, one market can rally only at the expense of another. Last week it was again the stock market’s turn. Click here to…
Unless foreign central banks step back up to the plate, either the Treasury market will collapse, or the stock market rally will fizzle, or both.
In recent days the trial balloons have been floating up fast and furious as various Fedheads talk about the benefits of or the need for…
Stocks rallied and Treasuries held their own in the past week as the market faced no pressure from new Treasury supply, and foreign central banks…
The composite liquidity indicator declined in the week ended October 12 for the third consecutive week, slightly penetrating the 39 week moving average. The growth…
