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All Ords 5-day chart

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http://bigcharts.mar...com/default.asp

 

Ooh, ouch!  Bearz on board today: All Ords -1.3%, Miners -2.9%, Materials -2.4% and Energy -1.8% with not a green sector in sight.

Heavy duty red in Asia: China -3.7%, Hong Kong -1.4%, India currently -0.6%.

UK/Europe on a one-way trip: FTSE -0.5%, DAX -0.9%, CAC -0.8%.

 

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big.chart?nosettings=1&symb=FR%3APX1&uf=

  http://bigcharts.mar...com/default.asp

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So how do we find out how, if not why. the Fed is way behind in their balance sheet 'normalization'? It's a pretty big deal if they are just lying about the amount of redemption's.  I can't imagine what other factors would cause a rise in the balance sheet to negate part of the redemption's. Lee?

Fed guy Bullard is all over the wires about how the Fed is concerned about the tariffs and trade war and how they might slow the economy.  In other words announcing an eagerness to stop normalization if the economic numbers show any weakness. Of course what he really means is if the markets head South.

Just wait until Trump, or any administration really, goes on the warpath against the Fed. I have always been convinced this will happen.  Ultimately, 1 year or 10 I don't know,. The only way the Fed is going to maintain its so called independence is if it does more QE.  Does Powell know the gates of hell may open for him?

PS. I guess the miss on the SOMA shrinkage is explained in the Fed report as mostly lags in the operations and reporting of them

 

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If they're not saying anything about it, they're not lying.  They've been silent. I think that it has to do with the maturity schedule. It's technical, not deliberate, and as I suggested in the report, irrelevant.  Although I'm not sure that part wasn't edited  out. They keep the weekenders really  short. 

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Perhaps the draining operations will never reach $50 billion a month. They may get stuck at $35 or $40 billion per month. That would lengthen the time it takes for the Fed’s balance sheet to reach a normal tight reserve position.

That doesn’t matter however! The combination of Fed draining, the US Treasury pounding the market with new supply month in and month out, and soon, the end of the ECB’s QE program, will still be lethal for US stocks.

https://suremoneyinvestor.com/2018/10/fed-normalization-has-fallen-behind-schedule-heres-what-to-do/#deeplink

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