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Posted in Fast Facts, Lee's Free Thinking

Fed Shit Its Pants With This Typo- “US: $39132B reverse repo-1day 2016-02-08 NYFed temporary open market operations

That was the headline in the NY Fed RSS feed for Temporary Open Market Operations.

They meant $39.132 billion. That’s an extraordinarily low number. Here’s the daily history over the last 5 weeks.

Wasn’t so long ago that the daily totals were well over $100-150 billion per day. Today, nobody has any cash to lend to the Fed at any price. Liquidity has collapsed.

By the way, the Fed did correct the typo about an hour later. It was a lot more fun without that decimal point.

 

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