chek't
he had a suit on the other day trying to spit out some shit about bankers so yeah he owns one….
markets are right back up at the top of a many week range (SP500 4100-4200 and the only real thing sortof left for the indicies) so until that breaks out it's still sideways city.
NAS is just one big short squeeze after another
Fed Emergency Bank Bailout Facility Hits Record High; Money Market Inflows Suggest Deposit Run Not Over Yet
With regional bank stocks squeezing higher, one could be forgiven for thinking everything's awesome again (if you memory or charts only go back a week or so) except last week's deposit flows did not support that narrative and tonight's ongoing inflows into money market funds suggest banks are still struggling to keep hold of their deposits.
Money Market Funds saw $13.6 billion of INFLOWS, pushing the aggregate to a record high of $5.341 trillion. That is over $520 billion of inflows in the last three months. Retail funds saw over $14 billion of inflows while institutional funds actually saw a small outflow. This surge in money market fund inflows strongly suggests tomorrow's H8 deposit report will show the bank walk/run is continuing. After last week saw a tiny drop in the Fed's balance sheet, The Fed's infamous H.4.1 report shows that it dropped $46.3 billion last week - the 8th straight week of declines.As far as QT is concerned, after last week saw an increase of $461 million, the Total Securities Held Outright dropped $29.89 billion last week as QT started up again. The total size of the Fed's backstopping facilities remained extremely high at around $305 billion with the Fed's Bank Term Funding Program-cap#4(which is run out of the US Treasury's' Exchange Stabilization Fund) rising yet again to a new record high (up from $83.1 to $87.0 billion. The US central bank had $96.1 billion of loans outstanding to financial institutions through two backstop lending facilities in the week through May 17, compared with $92.4 billion the previous week. US Bank reserves at The Fed rose for the second week in a row.
Tomorrow we get the big one - more answers after the bell when The Fed releases its H8 report on bank deposit flows and whether the seasonal-adjustments are total bullshit or not.
https://www.zerohedge.com/markets/fed-emergency-bank-bailout-facility-hits-record-high-money-market-inflows-suggest-deposit
I'd say if they were short on the NAS they might be having some problems as Mar 10 it was 11,138 (the most recent bottom and the same day SVB 'sploded) and it's at 12,688
But I also know that all the Algos (CTA positioning from last week showed those bots were gonna dump about $200B in a down tape over the next month with a pretty sizeable chunk in the SP500-and a new one comes out today) are still levered up towards the 95th percentile and they are looking to get out of that based on the programmed selling they say they will be doing.
here is a y/t site that covers that CTA stuff once a week-also some pretty plain vanilla stiff headlines-wise.
It's not for real-time stuff-use it occasionally if I miss a headline
https://www.youtube.co/@stevenvanmetre5087
No longer active so not needing up-to-the-minute information ala B-Berg terminal but it's like riding a bike…hard to forget how
Good luck
yes we do and they are banning gas heaters for new construction, has to have solar and then the car bullshit-all electric by 2035 and that will never habben with the state of the grid and lack of maintenance on it. Rolling blackouts are pretty common during peak summer in SoCal.
check this one too..followed him for a while
https://twitter.com/hendry_hugh
He took his pile around same time frame as I did basically fed up with it but enjoy his take on it-very knowledgeable
The other one can be a little on the fin pron side but he stays pretty level