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Fed Gave Primary Dealers $110 Billion Outright Today, March 25

The Fed bought $70 billion in Treasuries and $40 billion in MBS from Primary Dealers today. That’s a month’s worth of old QE in a day. They’ve been doing it every day this week and will do it again Thursday and Friday.

So $300 or so billion has bought them 300 S&P points so far this week. A billion dollars a point. At this rate it will only take a trillion to get the market back to the highs. Only.

Liquidity moves markets!

Follow the money. Find the profits! 

There’s no guarantee this will stick. I’ll withhold judgment until the S&P 500 either hold a breakout above 2550, or shows that it can’t. And it will be interesting to watch the price change of the S&P per billion of QE. Watch Out if each point starts getting more expensive.

To find out what the Fed’s actions ultimately mean for your investments, and trading strategy, join me at Liquidity Trader.

Here are the results of today’s operations.

Treasuries:

OPERATION – RESULTS
Operation Date: 03/25/2020
Operation Type: Outright Coupon Purchase
Release Time: 02:30 PM
Close Time: 02:50 PM
Settlement Date: 03/26/2020
Maturity/Call Date Range: 03/31/2020 – 06/15/2022
Total Par Amt Accepted (mlns) : $24,000
Total Par Amt Submitted (mlns) : $40,562

OPERATION – RESULTS
Operation Date: 03/25/2020
Operation Type: Outright Coupon Purchase
Release Time: 01:39 PM
Close Time: 02:00 PM
Settlement Date: 03/26/2020
Maturity/Call Date Range: 05/15/2040 – 02/15/2050
Total Par Amt Accepted (mlns) : $5,000
Total Par Amt Submitted (mlns) : $8,309

OPERATION – RESULTS
Operation Date: 03/25/2020
Operation Type: Outright TIPS Purchase
Release Time: 12:50 PM
Close Time: 01:10 PM
Settlement Date: 03/26/2020
Maturity/Call Date Range: 04/15/2021 – 07/15/2027
Total Par Amt Accepted (mlns) : $5,600
Total Par Amt Submitted (mlns) : $7,328

OPERATION – RESULTS
Operation Date: 03/25/2020
Operation Type: Outright Coupon Purchase
Release Time: 12:00 PM
Close Time: 12:20 PM
Settlement Date: 03/26/2020
Maturity/Call Date Range: 06/30/2022 – 08/31/2024
Total Par Amt Accepted (mlns) : $14,348
Total Par Amt Submitted (mlns) : $23,186

OPERATION – RESULTS
Operation Date: 03/25/2020
Operation Type: Outright Coupon Purchase
Release Time: 11:00 AM
Close Time: 11:20 AM
Settlement Date: 03/26/2020
Maturity/Call Date Range: 05/15/2040 – 02/15/2050
Total Par Amt Accepted (mlns) : $5,000
Total Par Amt Submitted (mlns) : $8,954

OPERATION – RESULTS
Operation Date: 03/25/2020
Operation Type: Outright Coupon Purchase
Release Time: 10:20 AM
Close Time: 10:40 AM
Settlement Date: 03/26/2020
Maturity/Call Date Range: 09/30/2024 – 02/28/2027
Total Par Amt Accepted (mlns) : $11,000
Total Par Amt Submitted (mlns) : $20,937

OPERATION – RESULTS
Operation Date: 03/25/2020
Operation Type: Outright Coupon Purchase
Release Time: 09:29 AM
Close Time: 09:50 AM
Settlement Date: 03/26/2020
Maturity/Call Date Range: 05/15/2027 – 02/15/2040
Total Par Amt Accepted (mlns) : $6,000
Total Par Amt Submitted (mlns) : $11,163

MBS:OPERATION RESULTS

OPERATION RESULTS
Operation Date: March 25, 2020
Operation: Purchases
Operation Type: TBA
Auction Method: Multiple Price
Release Time: 01:59 PM
Close Time: 02:30 PM
Settlement Date: May 13, 2020 (May Class A)
Total Amt Accepted (million): $ 9,300 par
Total Amt Submitted (million): $ 16,983 par

Operation Date: March 25, 2020
Operation: Purchases
Operation Type: TBA
Auction Method: Multiple Price
Release Time: 01:00 PM
Close Time: 01:30 PM
Settlement Date: May 20, 2020 (May Class C)
Total Amt Accepted (million): $ 8,100 par
Total Amt Submitted (million): $ 11,637 par

OPERATION RESULTS
Operation Date: March 25, 2020
Operation: Purchases
Operation Type: TBA
Auction Method: Multiple Price
Release Time: 11:15 AM
Close Time: 11:45 AM
Settlement Date: May 13, 2020 (May Class A)
Total Amt Accepted (million): $ 9,300 par
Total Amt Submitted (million): $ 21,816 par

OPERATION RESULTS
Operation Date: March 25, 2020
Operation: Purchases
Operation Type: TBA
Auction Method: Multiple Price
Release Time: 10:15 AM
Close Time: 10:45 AM
Settlement Date: May 18, 2020 (May Class B)
Total Amt Accepted (million): $ 1,986 par
Total Amt Submitted (million): $ 4,510 par

OPERATION RESULTS
Operation Date: March 25, 2020
Operation: Purchases
Operation Type: TBA
Auction Method: Multiple Price
Release Time: 09:15 AM
Close Time: 09:45 AM
Settlement Date: March 30, 2020 (March Class A)
Total Amt Accepted (million): $ 11,190 par
Total Amt Submitted (million): $ 22,444 par

 

 

 

 

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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