The Fed conducted a couple of enormous operations over the week that we were away, the most notable being last Thursday, with an unprecedented $38 billion in 1 day, 4 day, 7 day and 14 day repos, against an even more unprecedented $49 billion in expirations. Shocking, simply shocking. Things were a little more mundane here on Monday, with a net drain of “only” $4.5 billion. The net result of all that activity on the week was a 5 day net drain of a measly $750 million, in other words, lots of sound and fury, but no movement. But it didn’t stop the stock market from marching upward. 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.
Join the conversation and have a little fun at Capitalstool.com. 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.
You must log in to post a comment.