Sep. 10 at 5:41 AM
$TRX
M2 Money Supply (SA,
$B) 23218, up from the prior reading (as of 2026-07-01).
M2 Money Supply (weekly, NSA) 23207.7, up from the prior reading (as of 2026-08-03).
M2 Velocity (quarterly) 1.42, up from the prior reading (as of 2026-04-01).
Treasury General Account (Fed balance,
$MN) 967935, up from the prior reading (as of 2026-09-02).
10Y-2Y Treasury Spread (yield curve) 0.4, down from the prior reading (as of 2026-09-09).
10-Year Treasury Yield 4.8, up from the prior reading (as of 2026-09-08).
2-Year Treasury Yield 4.39, up from the prior reading (as of 2026-09-08).
The monetary read: M2 rose to
$23.22 trillion in the observation dated 1 July 2026, and velocity - quarterly, lagged, dated 1 April 2026 at 1.42 - was also up, so this is not the familiar picture of new money being hoarded into asset prices while consumer prices stay quiet; both the stock and its turnover are rising, which is the more inflationary of the two configurations and a cleaner reading for metals.
