The six-week trend in M2 growth was broken tonight as M2 contracted slightly for the figure reported as of January 3rd.
The preliminary January 3rd measure stood at $8.825 trillion. Annualized M2 growth over the past 13 weeks was 6.8% vs. annualized growth of 5.8% and 3.3% for the past 26 and 52 weeks.
The song remains the same: Avoid U.S. Treasuries at this time.
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