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$600 payments

Summary:
They’re not booing...  they’re saying Maaaahhhnooooooooch...The 0 being credited to US person bank accounts this morning already... (I guess he didn’t do a part 2/2?)... I’ve read the 0 individual payments will total about 6B for US Treasury... I’m interested to see what they do or don’t do to adjust the TGA balance in response to these withdrawals....@USTreasury has delivered a payment file to the @FederalReserve for Americans’ Economic Impact Payments. These payments may begin to arrive in some accounts by direct deposit as early as tonight and will continue into next week (1/2)— Steven Mnuchin (@stevenmnuchin1) December 29, 2020

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They’re not booing...  they’re saying Maaaahhhnooooooooch...

The $600 being credited to US person bank accounts this morning already... (I guess he didn’t do a part 2/2?)... 

I’ve read the $600 individual payments will total about $166B for US Treasury... I’m interested to see what they do or don’t do to adjust the TGA balance in response to these withdrawals...




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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