CNBC Africa’s Lindsay Williams interviewed me on his nightly drive time radio show last night. I told him the market would go much lower. Listen now. http://wallstreetexaminer.com/lindsay12616.mp3
Wall Street Examiner Exclusives
Max talks to me at 12:52. Max and Stacy in the first half.
The banks who are borrowing in the Fed Funds market are the distressed exception.
This is an excerpt from the Pro Trader Weekly Federal Revenues Report. Federal Revenues Pro Trader subscribers (or Professional Edition), click here to download complete report…
The Federal Government reports daily withholding tax collections in real time with a one day delay. I track and report that data weekly and other…
The Fed has “raised interest rates” (wink-wink). Its primary tools in this make believe policy are interest on excess reserves (IOER) and the interest paid on reverse repos (RRP). The new Fed Funs target rate is now 25-50 bp. Fed Funs were reported to be trading at a weighted average rate of 36 bp on December 22.
The macroliquidity indicators this week do not show any sign that a significant change is at hand. Yet, we know that plunging commodities, emerging markets, and leveraged junk bond markets are destroying cash. That should begin to show up in these indicators, particularly in bank deposits, in the weeks ahead.