Federal tax collections were exceptionally strong for the full month in March, including withholding taxes in particular. The jobs gains reported by the BLS, were, if anything, understated.
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You may think that this strong economic data is good news for the markets. But it’s not. A red hot economy will continue to feed raging inflation. The Fed will have no choice but to continue tightening policy.
The markets will get a xxxx xxxx xxxx (subscriber report) thanks to seasonal Treasury paydowns in April and May, but after that, the tightening monetary conditions should have devastating effects on xxxx xxxx xxxx. Therefore, rallies in stocks and bonds into mid May will continue to be xxxx xxxx xxxx.
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