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May is still in surplus. This needs to flip.

Summary:
Just checked today. Federal budget still in surplus this month by bln. Continues to drain liquidity from markets.

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Just checked today. Federal budget still in surplus this month by $31 bln. Continues to drain liquidity from markets.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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