Last night I had a dream that I was a Teepee and a Wigwam, My doctor said I was too tense.

The Fed released their balance sheet figures showing it has risen by almost $400Billion in the last two weeks. This is the money banks are borrowing.

The banks are borrowing on their 2% bond collateral at 100% value but borrowing at about a 4 3/8% interest rate. Why would you do that?

Are the banks doing this for safety or do they really need it?

We continue to watch and see what happens next week. Have a great weekend and always reach out.