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 enormous line. That could adversely affect a market that looks like it will blast off early, at least based on the hysteria in the after hours session. Click here to download complete report in pdf format (Professional Edition Subscribers).

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