Tag Archive for Term Paper

Headwinds are Building and Bullets are Flying For Treasuries

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…

Is The Liquidity Tide Coming In or Going Out For Stocks?

This is an extended excerpt from the Professional Edition Fed Report Executive Summary. Note: Pages 4-10 comments correctly updated at 3:55 PM NY time. The composite liquidity indicator rose sharply last week, driven by a big Fed settlement of MBS purchases. The uptrend in the indicator is accelerating. Over the course of this latest surge,…

Primary Dealers and Their Biggest Client Off The Hook For Now, What Next?

The composite liquidity indicator edged higher last week, continuing a slow but steady uptrend. In February and March, the indicator had accelerated upward away from its 39 week moving average. That acceleration has slowed, but the indicator continues to advance. With somewhat less abundant liquidity, the government and Primary Dealers have targeted that liquidity for…