The Treasury settled $72 billion in new supply on Monday. Normally we don’t see that much pressure on the market on the day of settlement.…
The Fed only slightly increased the size of the Fed’s balance sheet this week as MBS and GSE holdings increased while Alphabet Soup programs declined…
The market held at a key support level on Wednesday, but that doesn’t mean it’s out of the woods. Click here to download complete report…
The market got crushed by a huge wave of Treasury supply this week. No surprise there. We hypothesized just that last week based on the…
The Treasury normally has a debt paydown in the January 15 week, thanks to tax receipts, but not this year. Including the notes auctioned this…
The Treasury calendar will be enormous next week, including the usual 4, 13, and 26 week bills plus 3 and 10 year notes and a…
The Fed bought another slice of GSE paper today to add to the $13.4 billion it has consumed over the past 3 weeks. The total…
Market indicators are beset with cross currents. Until they get in gear, the market is likely to remain sloppy, trending mostly sideways. Time counts suggest,…
The Fed did another outright purchase of Agency debt on Friday. Its little ploy to get foreign central banks (FCBs) and Primary Dealers off the…
This was the week the Fed threatened to balloon its balance sheet to whatever extent necessary to reflate the economy. In spite of all the…