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 Herd
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…
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…
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…
Housing, Must Read
Housing Prices and Sales Volume Gained Sharply in May- Dataquick
by Lee Adler • • 0 Comments
Dataquick is reporting a 6.3% increase in sale prices and a 10.1% increase in sales volume for May versus May 2011. Versus 3 years ago, the median sale price is up 3.3% and volume is up 10.1%. Prices have now exceeded the 2011 peak reached in July and August and sales volume is virtually at…
Charts, Economics, Housing, Lee's Free Thinking, Must Read
Case Shiller – A Rant
by Lee Adler • • 0 Comments
Here we go again with all the nonsense reporting of the Case Shiller Index, a 3 month moving average of house sale transactions that took place in November, December and January, and was reported today as representing the end of March. Why does anyone care about the value of a moving average of transaction prices…
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…
