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Federal Revenues – Real Time Data Downshifts, Liquidity Cliff Still on Track

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Withholding tax collections through April 2 decelerated versus recent months. This marks the expected cyclical downstroke, due to bottom in April. There is no break of trend yet, but further weakness—especially in response to tariffs or market stress—could shift the trajectory lower. Here’s what it means and what to look for. 

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Posted in 1 - Liquidity Trader- Macro Liquidity, Fed, Central Bank and Banking Macro Liquidity