Lee AdlerThe stock market rally has stuttered and stumbled over the past 9 days. We now know why and, knowing that, we can forecast what comes…
I started this update before the jobs report, was interrupted, and came back to this Yooge upside surprise. I apologize for this reading being disjointed.…
Composite liquidity is flat and will remain so until the Fed restarts QE. That should be bearish, but it’s not right now. There are a couple of reasons for that. And they are reasons to hold off from looking to get short right now. But are they reason enough to go long? Here’s the answer.
When we last looked at Primary Dealer positions and financing in November, it looked like the dealers were in dire straits. Massively leveraged in the…
Federal withholding tax collections soared last month and continued to do so in the first few days of January. I wondered if this was an…
The US Treasury has been pumping a gusher of cash into the market ecosystem in December, but Composite Liquidity remains flat. And that, my friends…
I have long operated on the assumption that the US Treasury will follow the TBAC issuance forecast, with exceptions only in obvious emergencies. That assumption…
Last week I took a pre end of month look at the withholding taxes for November because of the earlier than usual release of the…
Last month’s discussion of the US Treasury doing bond buybacks on the heels of a reeling bond market has faded into the background, thanks to…
That’s right. Inflation is dead. But it doesn’t matter, because the Fed won’t pull the stake out of its heart until it’s too late. I’ll…
Obviously, no market moves in a straight line, and this one is no exception. The technical analysis says the rally in Treasuries will have legs,…
In Part 1, we saw a rebound in withholding tax collections after 3 down months. October also saw a very strong gain in individual estimated…