$71 billion will buy a lot of paper, and there’s more to come, as the Fed has scheduled 2 more Treasury permanent purchases this week. That’s on top of $56 billion in Treasury paydowns that will settle this week, and billions more in MBS purchases that are scheduled for settlement over the remainder of April (See Professional Edition Fed Report). That’s a major prop job under way, and in the short run it should have an impact. 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.