The Fed added a measly $250 million to the liquidity pool on Tuesday, auctioning $3.75 billion in overnight repos against $3.25 billion expiring. Meanwhile, yesterday’s panic to buy the 13 and 26 week bills clearly didn’t carry over to today. They almost didn’t sell the whole issue. The bid to cover ratio was an astonishingly low 1.11. Click here to download complete report in pdf format (Professional Edition Subscribers).Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
