If The Fed Sells Treasuries... Who Will Be Buying? Answer: "Other" (Seriously)!
Authored by Chris Hamilton via Econimica blog,
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Dow Streak Of Record Highs In Danger As S&P Slides; Gold Surges
The near-record string of 10 consecutive Dow Industrials record highs, a streak not seen since early 1987, may be about to end if futures, which are currently trading -0.3% lower, fail to stage a rebound.
Steven Mnuchin Speaks To CNBC, Fails To Give Trump Tax Plan Details: Key Highlights
Following his first interview since being confirmed yesterday with the WSJ, US Treasury Secretary Steven Mnuchin spoke to CNBC's Becky Quick and repeated some of the key points he made yesterday, among which his hope to get tax reform done by the August Congress recess, however he again confirmed that there are too many moving pieces at this point saying it is "too early to give details" of the Trump tax plan.
Dazed & Confused... Treasury Buying Versus Asset Valuations?
Fed Remits Only $92 Billion To Treasury In 2016, Lowest Since 2013
The world was reminded of the cozy relationship between The Fed and The Treasury again today as Janet sent Jack $92.0 billion of freshly ponzi'd net income for 2016 providing the federal government with an important source of funding. This, however, is down almost 6% from 2015 and despite a considerably larger balance sheet is the lowest remittance since 2013 due to doubling the handouts to the major banks to $12 billion last year.