The Fed maintained the status quo in its decision last week, which means that it will continue to pump $25 billion per month through the trading accounts of the Primary Dealers via its MBS purchase program. That number could increase modestly later this summer as a result of the latest mortgage refi mini boom driven…
Tag Archive for Critical Forces
Liquidity Trader, Professional Edition
Federal Government Doing “Just Fine,” But Treasuries Losing Popularity
by Newswires • • 0 Comments
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…
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…
European Crisis, Must Read
EU Smiled While Spain’s Banks Cooked the Books, and Now We’re Surprised?
by Newswires • • 0 Comments
…back in 2008 and early 2009, Spanish regulators were riding high after their country’s banks seemed to have dodged the financial crisis with minimal losses. A big reason for their success, the regulators said, was an accounting technique called dynamic provisioning. By this, they meant that Spain’s banks had set aside rainy- day loan-loss reserves…
Must Read
Easing Inflation Pressures Suggests Fed Might Ease But Wonks In The Basement Say No!
by Newswires • • 0 Comments
Consumer prices are stabilizing… Recently, oil prices have tumbled and core inflation — which excludes volatile food and energy prices — has flattened out, with prices settling about 2.3% higher than a year ago. Easing price pressure should give some comfort to Federal Reserve officials before next week’s policy meeting. via Vital Signs: Easing Inflation…
Charts, Economics, Lee's Free Thinking, Must Read
Retail Sales Per Capita had biggest gain in 21 years in May
by Lee Adler • • 0 Comments
This report is an excerpt from the permanent Retail Sales Chart Page. See that page for more charts and discussion. That page will be updated whenever new data is released. Bookmark that page for future reference. Real Retail Sales Ex Gasoline Per Capita Helped by the drop in CPI in May, Real Retail Sales Ex…
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, Lee's Free Thinking, Must Read
Foreign Share of Treasury Auction Takedowns Back Near Low of 3 Year Downtrend
by Lee Adler • • 0 Comments
This is an update of the new permanent page on Treasury Auction Investor Class Allotments. That page will be updated regularly. Bookmark it for future reference. Treasury Auction Investor Class Allotments Dealers take the lion’s share of the Treasury auctions followed by foreign buyers, mostly central banks. Over the past year investment funds have caught up…
Housing, Lee's Free Thinking, Must Read
Housing Prices and Sales Volume Continue Surge in Early June – Dataquick
by Lee Adler • • 1 Comment
Dataquick is now reporting a 7.4% increase in closed sale values for the 30 days ended June 7 versus a year ago. This would represent mostly contracts entered in March. The data released today shows a clear breakout in prices with the median sale price for sales data collected in the 30 days ended June 7…
