Bloomberg says that global corporate profits are being hit by the Euro crisis. Maybe so, but second quarter corporate taxes in the US hit a 4 year record. Europe’s debt crisis is putting pressure on corporate earnings globally with companies from Procter & Gamble Co. (PG) to Danone (BN) cutting forecasts and signaling profits will…
Tag Archive for Tax Collections
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…
Charts, Economics, Lee's Free Thinking, Must Read
Weakening Federal Withholding Tax Collections Do Not Bode Well For Employment
by Lee Adler • • 0 Comments
This report is an excerpt from the permanent Employment Chart page. The edge that Federal Withholding Tax collections had held over last year continued to narrow last week, suggesting a weakening employment picture in May. The chart below compares current withholding tax collections with last year on the same date. This year collections have been…
Editorial, Lee's Free Thinking, Must Read
Answering the Shitstorm of Righteous Indignation
by Lee Adler • • 0 Comments
Every time one of my articles that recognizes the currently bullish trend in some economic indicator is posted over on Zerohedge, it gets thousands of views. But those posts also bring forth a shitstorm of righteous indignation from the permabear crowd, of which, ironically I am one (more or less). I do recognize cyclical bull…
Charts, Economics, Lee's Free Thinking, Must Read
It’s That Time of The Month, Employment Data Leads To Investment Mood Syndrome
by Lee Adler • • 0 Comments
Every month the gummit’s Bureau of Liar Statistics (BLS) dutifully reports reams and reams of data on the employment situation in the US. Some of it is actually useful. The rest is reported by the mainstream financial news media. The BLS reports both seasonally adjusted (SA) data and not seasonally adjusted (NSA) data. The NSA…
Email Bulletins Archive, Lee's Free Thinking, Must Read
Treasury Market About Face- Just a Blip or Sign of Things To Come?
by Lee Adler • • 0 Comments
I mentioned in my last free report that the bulge in withholding tax collections which may have been a tipoff to the better than expected payrolls data, had subsided. I took another look at the data today, and there’s been no rebound since I posted that report. On top of that, yesterday the Treasury announced…
Email Bulletins Archive, Lee's Free Thinking, Must Read
Deconstructing The “Massive Beat” in Employment Data- Corrected
by Lee Adler • • 20 Comments
Editor’s Note: The earlier version of this article included unadjusted numbers derived from a spreadsheet error. The error resulted in the not seasonally adjusted month to month employment declines being understated. The data has been corrected. The analysis and conclusions are unaffected. Thanks to rdkyote for bringing this to my attention! The headlines are blaring…
Must Read
Treasury Announces Sharply Reduced Borrowing Estimates
by Lee Adler • • 0 Comments
Consistent with reports in the Wall Street Examiner Professional Edition Treasury Updates, the government will borrow less in the first quarter than it had originally forecast, primarily due to a big increase in withholding taxes since mid December. It is also estimating a much lower borrowing rate for the second quarter, meaning that its economic…
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Treasury’s 4 Week Bill To Be $5 Billion Less Than Forecast
by Lee Adler • • 0 Comments
The 4 week bill is announced at $30 billion, which is $5 billion less than forecast. On the week bill auction sizes total $13 billion below forecast, reflecting the strength of tax collections. CUSIP: 912795Z38Term and Type: 4-Week BillOffering Amount: $30,000,000,000Auction Date: 01/24/2012Issue Date: 01/26/2012Maturity Date: 02/23/2012PDF version of the announcementXML version of the announcement…
Lee's Free Thinking, Liquidity Trader, Professional Edition
European Panic Sweeps 700 Pound Gorilla Under The Rug
by Lee Adler • • 0 Comments
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 new supply had been exceeding TBAC estimates for the past couple of months, it has come back in line with estimates, and could be reduced even further in the weeks…
