Lee AdlerThe imbalance between Fed QE and Treasury supply is ugly as as it gets for the next week, but then it gets less ugly. Here’s…
Gold is consolidating. Here’s what to look for to signal that it’s something worse.
We know that total liquidity is still growing. The Fed is still printing and pumping money into the system at an historic rate. That rate…
Last week was wild and wooly. The volatility suggests illiquidity, which at this stage is not bullish. It’s consistent with the idea I’ve espoused in…
This data tells us exactly what the big picture is right now, while Wall Street economists are still scratching their asses and trying to figure out what the government statistician manipulated data will be and will mean. And the first report from that government data is still 13 days away.
Primary dealers have been gradually paying down their outstanding repo loans from the Fed, just as we have long expected. This has momentous implications for…
Gold is consolidating. Here’s what to look for to signal that it’s something worse.
By early Monday morning, the ES futures were trading at 2966, and had traded as low as 2925. 2950 is now critical support. If New…
The Monthly Treasury Statement for May confirms that the economy rebounded during the month, but more recent data through last week suggests that the rebound…
A sharp eyed subscriber caught an error on the top of page 4 of this report. I typed “billion,” instead of “trillion,” twice, in reference…
The Fed has now promised QE infinity. But will it be enough, in the face of Federal deficit financing to infinity and beyond? Because for…
US Commercial Bank data had been sending warning signals that all was not well for at least a year before the stock market crashed. I…