Considering all the money that has no good home, it’s awfully odd the Fed feels duty-bound to shove $120 billion down the throats of banks month after month with no end. Here’s the overnight reverse repo:
Nothing to See Here
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
It’s About Time
The weirdest part? I actually think the chart looks bullish now!
Attention Telegram Users!
If you use the Telegram messaging system, you can take advantage of the fact that SlopeAlerts is able to transmit messages to you via Telegram for instant and very convenient notices. (If you don’t have Telegram yet and need to download this free app, just click here).
“Pairing” your Slope account with Telegram is a snap, but you do need to follow these specific instructions:
- Make sure you have clicked the link in the SlopeAlerts dialog box that provides your token to you;
- Click on this link which will go to Telegram;
- Type a slash followed by the word token, like this: /token and press Enter;
- Telegram should ask you “Please send your token“; this is where you should paste the token and press Enter;
- You should now get a “Token Confirm” message. You are done!
Now you can go back to the SlopeAlerts dialog box in SlopeCharts and click the link which refreshes the dialog box.
Something Completely Different
Pencil-Dick Post-Mortem
Now that Jerome Hayden Powell has done his eight-times-a-year thing once more, let’s catch up on some important equity indexes. My conclusion is overall the same: he didn’t change a thing.
Look at the Dow Jones Composite. Today’s Powell love-fest, which included his typical donning of his kneepads for the billionaire class, did nothing but produce a red bar. More importantly, it has become a cliché at this point that the days following the FOMC Kabuki theatre are quite weak. Break that horizontal line, and pencil-dick gets a black eye.
