by Summary:
Treasury account now over T for first time in history... and this is even with Mike having withdrawals up by about 0B in the last month...However this is still not quite enough of an increase in issuance to overcome the Fed's addition of reserve assets at the Depositories and banks ability to provide additional credit is remaining a bit impaired... Treasury should increase their balance by another T and that would be very helpful...
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Treasury account now over T for first time in history... and this is even with Mike having withdrawals up by about 0B in the last month...However this is still not quite enough of an increase in issuance to overcome the Fed's addition of reserve assets at the Depositories and banks ability to provide additional credit is remaining a bit impaired... Treasury should increase their balance by another T and that would be very helpful...
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Mike Norman considers the following as important:
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Treasury account now over $1T for first time in history... and this is even with Mike having withdrawals up by about $450B in the last month...
However this is still not quite enough of an increase in issuance to overcome the Fed's addition of reserve assets at the Depositories and banks ability to provide additional credit is remaining a bit impaired...
Treasury should increase their balance by another $1T and that would be very helpful...