Corp tax revenues fall 57% YOY. FOMC meeting next week. More Quantatative easing??

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Subprime JD's picture
Subprime JD
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Joined: Feb 17 2009
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Corp tax revenues fall 57% YOY. FOMC meeting next week. More Quantatative easing??

The government plans to spend 3.56 trill this year.

No data on personal income but State and Fed tax rev has collapsed. 57% year over year in corp tax rev is amazing. The treasury has been flooding the market with bonds, 10 year yielding 2.95%, almost back to March 15 levels. If gov wants to keep real estate values from tanking it has to keep rates low, thus, it is more likely than not that more printing will be announced.

Dollar Index fell to 85.517, Gold rose to $908.15 from $868 on the 20th, Crude rose to $49.40. Perhaps traders are anticipating Bernanke pressing the nuclear button one more time.

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