Lee AdlerBack in 2008-2009, I chronicled how the Primary Dealers caused the stock market crash. They were the most important and least recognized cause of what…
In the mid month QE update, I concluded the intro summary with this warning: 1/16/21 At this point, it seems like we are on the…
I have tried in these reports for the last twenty years to identify the most important forces driving the stock market. To some extent, I’ve…
This was inadvertently posted a moment ago with the wrong headline and post link. Sorry for the error! Macro Liquidity continues to bulge. The stock…
Both bonds and stocks have weakened over the past 2 weeks. It’s a sign that the Fed isn’t supplying enough QE. We’ve known for a…
We have a little tightness in the market at the end of every month. That’s because the Treasury issues a big wad of TP and…
Back in September I wrote to you about why I was giving up on the banking system indicators. I’ve reposted that rant in an addendum…
The Fed continues to fund roughly 85% of new Treasury issuance. It affirmed at last week’s FOMC meeting that it won’t cut QE for the…
The Fed’s policy remains stable at about $170 billion per month in QE, give or take a few billion depending on the level of MBS…
Here’s the problem. When rates are falling, there are more sales, and especially more refi. So the prepayments go up, and the Fed sees a…
Yesterday we looked at the overview of the CLI and the issue of new and secondary stock offerings. The CLI is still bullish. And the…
Are You Kidding Me? Can this be right? Did the stock market become oversold in mid October versus Composite Liquidity. This chart said that it…
You must be logged in to post a comment.