FRBNY FX Swap and Securities Market Update

CalibratedConfidence's picture

The quiet before the storm has FRBNY FX Liquidity Swaps dropping steadily and Margin Credit climbing along with a deterioration in Investor Net Worth.


The ECB continues their steady decline in money Bernanke didn't use to bailout Europe:


Here in the US, investors continue to drive equities higher as they accumulate further debt in an effort to front run the decreasing marginal benefits of Fed induced liquidity comas.


Zoom view:


NYSE released November margin debt data and to nobody's surprise total margin debt rests at $327 billion, the highest since April 2011 ($320 billion), leaving inquiring minds to ask just how much purchasing is being done on margin (Free Credit less Total Margin Debt)?  The answer is $44.3 billion, the highest since June of 2011 ($45.9 billion).

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cosmyccowboy's picture

weeeeeee it's better than a ride at the fair!!!

Its_the_economy_stupid's picture


I'm scare now.

see what you've done.

NEOSERF's picture

Lots of macro events signaling worldwide recession.  My guess is Draghi starts printing like a madman, Abe trys to keep up with him and Ben searches for more items to buy as he is running out.  Perhaps the Fed will start just buying homes outright from Fannie-Freddie.  Cabinet turnover, bad first quarter earnings and gov numbers likely to scare someone into massive printing.

NotApplicable's picture

I'm sure the Treasury will keep Ben plenty busy, and as for purchasing homes, I'm betting once the Fed owns a large enough share of the paper trash "tied" to them, some judge will just declare the Fed as the de facto owner of all mortgages within the system, thereby setting up the final front-running operation of purchasing the remainder, at "par" from all the complicit bankster entitles.

Print with one hand, monetize with a swap in the other.


rocker's picture

But, but, but, Bernankee said under oath, I will not monetize. All the bad mortgages just vanished. LOL

DaddyO's picture


Ah, Friday Chart porn!

Fasten your seatbelts kiddies, 2013 is going to be over the top and then Weeeeeeeeeeeeee...