Professional Edition

Post Election Panic

The Fed must have panicked today when they saw the election results. They pumped in another $7.5 billion unanswered by any expirations. They probably didn’t need to. Recognizing that fact tomorrow, and facing a ridiculous $23 billion in repo rollovers from the election week jam, they are likely to start pulling in some of that…

Election Eve Largess Stokes Rally – WSE Pro

Flush with government largess on election eve, the market rocketed higher on Monday. The Fed pumped in $10.75 billion with overnight repos. They conveniently had scheduled no expirations today. Last week, the Treasury announced a $25 billion debt paydown in the three year and 10 year note refunding, only half of which will stick around,…