The data from the Fed is getting mildly interesting again. The Quantitative Tightening is still trucking right along. There are still trillions left, but the bump a year ago notwithstanding, the Fed has actually kept their word on burning off these assets. 
The Reverse Repo is in an absolutely free-fall. I’ve read about the effects of this in countless articles, but honestly, I still don’t get it. Fed “plumbing” has become incredibly complex and, evidently, matters way more to stocks than some quaint notions as revenues and profits. 
As for BTFP, Yellen’s scheme that started over a year ago and has shuttered on schedule, it is falling for the first time in its history. I suppose the reason is that the healthier banks are starting to pay the funds back. 
More By This Author:MSTR Island ReversalRevisiting UtilitiesHome Depot: Soaring To New Heights
