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Obscure Fed Reserves Data Fuels Stock Swings

Source: marketwatch.com

An obscure government report on bank reserve balances has been driving wild stock market swings lately.
The data shows reserves dropping sharply from $3.25 trillion in September 2022 to $3.03 trillion now, fueling volatility.
This shift signals tighter money supply, which could lead to more market turbulence ahead.

The article spotlights the Aggregate Daily Data on Balance Sheet, Weekly report from the Federal Reserve Bank of New York, an overlooked dataset tracking bank reserves at the Fed. It argues this metric better explains recent stock market volatility than typical indicators like jobs data or inflation. Key players are the New York Fed and major banks, and it matters because these reserve changes hint at liquidity squeezes that rattle markets and influence Fed policy.