Image Source: The latest Fed liquidity data is in, and it’s striking how we’ve come “full circle” with these multi-trillion dollar government stimulus efforts.
Fed Total Assets
Reverse Repo
March 2023 Bank BailoutThe coolest part of all is that, combined to project market direction, we get a result which is a beautiful rounded top similar to the one which completed in the first quarter of 2022.
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Normalization Blues
