Lee AdlerWith the light supply and the Fed money putting the wind at their backs, Primary Dealers got a gift on top of that. Coronavirus. The…
Dealers cut back their fixed income inventories ever so slightly over the past month. They also increased their hedges, but again, slightly. They are still…
Supply and demand conditions for stocks and bonds have been as good as it gets over the past month. We can thank the Fed’s Not…
It ain’t rocket science. The Fed drives liquidity and stock prices are the first order effect because that’s how monetary policy transmission is designed. These…
Federal revenues softened in December. That could be just a blip, or it could be the first signs of a looming recession. It’s bullish if…
The Fed has monetized 99 percent of the Federal Debt since it started Not QE. That’s been bullish. Here’s what to look for and how…
There are growing signs in the banking system that the Fed will lose control, and this won’t end well. Subscribers, click here to download the…
Federal tax collections were a bit softer in December than in recent months, but overall were in the same growth path as throughout the past…
Circumstantial evidence suggests that the Primary Dealers are in big trouble. The 10 year yield holds the key. Here’s what to look for. Subscribers, click…
The conditions were optimal for a big rally in Treasuries, but it didn’t happen, and that’s bad news. Subscribers, click here to download the report.…
The Fed can never leave QE. Here’s why, and what it means for you.
Federal tax collections were robust in November, signaling that the US economy is perking along. But Trump runs the Federal Goverment the way he ran his casinos into the ground.