Menu Close

Correction – WSE Pro Fed Report for 7/26/07

In yesterday’s Fed report, I erroneously reported a total of 14 billion in repos added on the day. The total was $19 billion. The net add was $6.25 billion not $1.25 billion. The Fed did an extra repo yesterday that I missed. The extra repo suggests that the Fed was in fact reacting to the market meltdown in the morning, not putting the market in a noose, as I had suggested. However, at the same time, $12 billion in new Treasuries were settling yesterday, so the $6.25 billion add fell short of monetizing all of the new paper. It also doesn’t change the fact that the Fed has been tightening the monetary base for the past 8 months as the market surged higher.

I apologize for this error, and any misperception it may have caused Professional Edition subscribers.

Join the conversation and have a little fun at If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Follow by Email

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading