The market is SO WRONG at this point

Overnight said:
And there is your folly. I really liked your opening line of your response here.

But after that, you fell down.

I never suggested, in any shape or form, that the Fed determines the amount of money for borrowing. But when Congress comes knocking, the Fed comes answering, charging the US treasury interest on the money it borrows from the Fed reserve.
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The Fed follows regular accounting practices. It doesn't give away its services. However you are ignoring where Fed profits end up.
 
piezoe said:
You are ignoring where any Fed profits end up.
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Now you are just messing with me, because you are acknowledging that there are profits. Which there have to be, because the central bank charges interest on every dollar it lends out of it's coffers. Look deeper, dude.
 
Overnight said:
Now you are just messing with me, because you are acknowledging that there are profits. Which there have to be, because the central bank charges interest on every dollar it lends out of it's coffers. Look deeper, dude.
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Correct. Borrowers pay interest.

Or inversely Interest can't be charged unless someone or some entity ... borrows.

IOW of course The Treasury borrows.
 
Overnight said:
Now you are just messing with me, because you are acknowledging that there are profits. Which there have to be, because the central bank charges interest on every dollar it lends out of it's coffers. Look deeper, dude.
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Of course, contrary to what some of our less informed colleagues believe, the Fed does not "give" money away. Private sector institutions can do that. Government agencies can't. It's where Fed profits end up that you should look into.
 
schizo said:
Not sure this is of any consolation to the bears, but ES made a lower low for the first time this year. Henc, let's see what tomorrow will bring. If it can break below yesterday's low, there might be a fighting chance.

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And during tonight's Globex session it has traded above today's HOD, though not yet above Tuesday's HOD. But might things be put on hold/low vol/small ranges till Friday 830am NFP report?
 
Overnight said:
Le sigh.
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Le Sayonara.
images
 
SunTrader said:
And during tonight's Globex session it has traded above today's HOD, though not yet above Tuesday's HOD. But might things be put on hold/low vol/small ranges till Friday 830am NFP report?
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You mean that little heeeeeead fake? LOL

Yeah probably, they usually push the market up going into NFP and sell the news. Wouldn't surprise me this time either.

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