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Macro & Liquidez

La fontanería del dólar, medida todos los días
Régimen actual

Total Federal Spending

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Correlation between Federal spending and Bitcoin, S&P 500, Nasdaq, gold and oil

Think of it this way

It is what leaves the government's checking account each month.

What is Total Federal Spending?

Everything the federal government spends in a month, from the Monthly Treasury Statement.

How to read Total Federal Spending

It is highly seasonal: there are months with large payments and slow months. It is read as an annual average.

What Total Federal Spending means for the market

Spending returns to the private system the money that issuance had held back.

Where the money flows

Everything the federal government spends in a month, from the Monthly Treasury Statement.

What to watch in Total Federal Spending

On its own it says little: its interest lies in the distance from revenue.

The money the Treasury takes out of its account and returns to the private system.

Glossary of monetary plumbing