Financial market overview
Catching Up With Fed Data
2023.07.10 06:41
It’s a quiet Sunday, so let’s thumb through the latest key liquidity data from our dear friends in the federal government. We see the Reverse Repo continuing to plunge.
Quantitative tightening is continuing, and after the SIVB bailout from Yellen
Janet Yellen’s checkbook has become fatter, thanks to the debt ceiling deal.
Of course, this is all quite distorted, thanks to Yellen handing out a tenth of a TRILLION dollars to her banking cronies, using SIVB as an excuse for more handouts. In a true organic stock market, the Dow would be at 6,000 or so.
It’s going to be an interesting week ahead. Earnings will start heating up on Friday with the big banks, and we will get the on Wednesday morning. Shield your eyes, Frank.
