Treasury Supply

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Market Forces

Stock World Weekly visits w/ Mark Hanna, Washington's Blog, Allan Trends, Lee Adler and Pharmboy. 

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Priced for Nirvana

But coincidentally, the ECB’s next Long Term Refinancing Operation (LTRO) is set for February 29...

Insider Perspectives On Liquidity, Funding, And Markets

Year end markets are infamous for distorting price action as illiquidity, bank and company window dressing, and risk paring tends to characterize investment decisions and valuation quirks.  In this market climate it can be challenging to differentiate between fundamental moves versus liquidity provisioning and the pursuit to flatten books and race to the finish line.  In the above spirit, typical year end position imbalances are suspicious as are global finance needs and the apparent dysfunctionality of funding market functioning and an information arbitrage between different markets in understanding of such minutia...The circular nature of worsening emerging and global fundamentals, lower sovereign growth prospects, associated financing challenges, lower asset valuations, regulatory cushions to such catalyzing asset sales, bank balance sheet illiquidity and, hence, funding stains tis the season.  Just a DAILY comment to elevate the ebb and flow adjustments of markets and policy makers to such linkages.   

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Stock World Weekly: Europhoria

"Unless the FCBs step up to the plate much more than they have in the past couple of weeks, either the Treasury market will collapse, or the stock market rally will fizzle, or both. We’re not there yet." Lee Adler