Lee AdlerThe Fed’s weekly real time balance sheet data and its slightly lagged data on the condition of the US banking system are inching closer to…
The Fed’s weekly real time balance sheet data and its slightly lagged data on the condition of the US banking system still show little sign…
Withholding tax collections soared in February to their highest level in 13 months. If this is not just a flash in the pan or data…
Neither the Fed’s weekly real time balance sheet data, nor its slightly lagged data on the condition of the US banking system yet shows any…
In last week’s report, we noted that “One of the key measures of animal spirits versus liquidity has reached an historic level of insanity that…
A potentially historic week is on tap. One of the key measures of animal spirits versus liquidity has reached an historic level of insanity that…
Withholding taxes rebounded in January, but they were still negative year to year in inflation adjusted terms, and barely positive in nominal terms. Non-subscribers, click…
Despite the fact that the Fed is no longer the only driver of the markets in one direction, it still plays a role indirectly. So…
The dealers have gone to an extreme of leverage against their bond positions for the second time since last July. Back then, the extreme lasted…
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Yesterday I posted a report on the plunge in the withholding data. Non-subscribers, click here for access. Subscribers, click here to download the report. That…
NOTE! This report has been updated here with important previously overlooked information. Withholding taxes plunged in December. They are by far the largest component of…