Why did the Fed panic?
True, withholding tax collections collapsed, thanks to the government shutdown. And that revenue collapse, while temporary, has ramifications in terms of causing an unusually large bulge in new supply this month that will be problematic for the stock and bond markets. If it isn’t, then we’ve moved into an alternate universe driven by fantasy, and leverage, that will come to a crashing halt one day soon.
But there’s another side to the tax data coin, and it tells a completely different story. This report covers the gory details in Technicolor charts and colorful language too!
Click here to download the report. (Liquidity Trader, legacy Federal Revenues Pro Trader subscribers)
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