Lee AdlerSubscribers, 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…
Subscribers, click here to download the report. Withholding tax collections entered a strong rebound phase in early February after their typical cyclical trough in late…
Subscribers, click here to download the report. Liquidity remains plentiful, sustaining bullish market sentiment for now. Key risks include a breakdown in repo growth, foreign…
Subscribers, click here to download the report. This update builds upon the analysis provided in the Liquidity Trader Macro Liquidity Report dated January 24, 2025…
The current market environment reflects a precarious balance between liquidity expansion and underlying systemic risks. Despite the Federal Reserve’s continued quantitative tightening (QT), private money creation through lending and repo markets has kept liquidity flowing, pushing stock prices to historically stretched levels.