SPX and Fed Liabilities+Capital Correlation since 2017

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Banking crisis saved this divergence. What happens when bank deposit outflows slow (which MMF inflows data suggests will happen, so far) and the Fed is free to go back to unloading the balance sheet?

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ملاحظة

Deposit data bounced back, waiting to see how tax season affects this.

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ملاحظة

Oh boy. That divergence is widening severely.

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ملاحظة

I'll try to keep this updated every wednesday with my take so here it is:

another tick down, started to see a nice little pullback. once the earnings nonsense is out of the way, I believe this divergence will start to close to the downside.

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أغلقت الصفقة: تم الوصول للهدف

Posted an updated version with weekly closes, instead of Wed. closes