Wow Steve, what an awesome and useful discussion on liquidity!
Is there any means for us to track this ('Liquidity is composed of
Bank Reserves, Fed Balance Sheet, TGA, FRB Loans") on a daily
basis? I thought I was tracking the Fed Balance Sheet at
https://fred.stlouisfed.org/series/WALCL but it does not seem to
reflect the increases since the end of March. Thanks!
My FRED link only shows the Fed Balance Sheet (BS), so it is
missing the other components (Bank Reserves, TGA, FRB Loans), and
that is what I need help tracking as the Fed BS has been declining
over the past 2 months while liquidity has risen.
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Tom Bowley
Posted by arun on 9th of Jun 2023 at 05:42 pm
Tom Bowley
Arun Thanks for the
Posted by rbreese on 10th of Jun 2023 at 10:11 am
Arun Thanks for the Bowley update. We should get the Max Pain figures this weekend which always make for volatility.
Don’t know many that have
Posted by jonesy85 on 10th of Jun 2023 at 11:55 am
Don’t know many that have been as consistently solid as Tom, and BPT.
Thanks jonesy - we are
Posted by steve on 10th of Jun 2023 at 12:03 pm
Thanks jonesy - we are trying to evolve (improve) along the way. Can't believe it's been over 15 years already.
Michael Howell firm specializes in
Posted by jonesy85 on 10th of Jun 2023 at 12:10 pm
Michael Howell firm specializes in tracking global liquidity. Good listen and follow on twitter.
https://myworstinvestmentever.com/ep689-michael-howell-liquidity-is-the-main-driver-of-asset-markets/
myworstinvestmentever.com
Ep689: Michael Howell – Liquidity Is the Main Driver of Asset Markets - My Worst Investment Ever
Michael Howell is CEO of CrossBorder Capital, a London-based FCA-registered, independent research and investment company he founded in 1996.
Yes Liquidity is the primary
Posted by steve on 10th of Jun 2023 at 04:48 pm
Yes Liquidity is the primary driver of asset prices. Liquidity is composed of Bank Reserves, Fed Balance Sheet, TGA, FRB Loans.
Thus far the initial round of filing up the TGA has been absorbed by RRP without a drop in bank reserves.
Below I have posted a link from Conks thread discussion on liquidity.
Conks Liquidity Thread
Wow Steve, what an awesome
Posted by sethbru on 11th of Jun 2023 at 01:58 am
Wow Steve, what an awesome and useful discussion on liquidity! Is there any means for us to track this ('Liquidity is composed of Bank Reserves, Fed Balance Sheet, TGA, FRB Loans") on a daily basis? I thought I was tracking the Fed Balance Sheet at https://fred.stlouisfed.org/series/WALCL but it does not seem to reflect the increases since the end of March. Thanks!
fred.stlouisfed.org
Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level (WALCL) | FRED | St. Louis Fed
View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.
My FRED link only shows
Posted by sethbru on 11th of Jun 2023 at 02:12 am
My FRED link only shows the Fed Balance Sheet (BS), so it is missing the other components (Bank Reserves, TGA, FRB Loans), and that is what I need help tracking as the Fed BS has been declining over the past 2 months while liquidity has risen.