Lee AdlerSubscribers, click here to download the report. April’s tax data shows slowing revenue growth, stable trends in key categories, and strong tariff growth. But the…
The U.S. Treasury primary market is showing structural stress disguised as stability. Dealer participation is masking fading real demand.
Subscribers, click here to download the report. The illusion of plentiful liquidity is about to evaporate. The apparent pool will suddenly materialize a cliff. Professional…
Subscribers, click here to download the report. As liquidity pressures intensify, the market is on the verge of an even bigger shock. Professional investors, click…
Subscribers, click here to download the report. Withholding tax collections through April 2 decelerated versus recent months. This marks the expected cyclical downstroke, due to…
Subscribers, click here to download the report. The April 3 report is now live, with a full breakdown of dealer positioning, leverage extremes, and why…
Subscribers, click here to download the report. A new analysis suggests that the liquidity crisis may arrive sooner than the actual liquidity cliff Professional investors,…
Subscribers, click here to download the report. Treasury issuance and liquidity measures suggest a probable temporary reprieve but how long and how strong. After that…
Subscribers, click here to download the report. Withholding tax collections jumped year-over-year as of March 3—at the upper end of the past year’s strong nominal…
Subscribers, click here to download the report. Not a subscriber? Get access here. This week, I take a fresh approach—a Q&A debate with my AI…
Subscribers, click here to download the report. Non-subscribers, click here for access. The latest Liquidity Trader Primary Dealer Position Report is live. 📊 This month’s…
The latest Liquidity Trader – Money Trends Macro Liquidity Report by Lee Adler is now available. Subscribers, click here to download the report. This…