Call it what you will, the Fed has started the new QE. It’s coming fast and furious with POMO on top of TOMO that will grow the Fed’s balance sheet as fast as it did under old QE. It’s a sign that the house is on fire.
Lee’s Free Thinking
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Federal Reserve QE New, Lee's Free Thinking
Fed Overnight Repo Operations for October 4
by Lee Adler • • 0 Comments
In the Fed’s daily overnight repo operations for October 4 it offered $75 billion in overnight repurchase agreements to Primary Dealers. The dealers took $38.55 billion at an interest rate of 1.8%, to fund the carry of their securities holdings. Here’s what this means.
Federal Reserve QE New, Lee's Free Thinking
Lee Goes Off on the Stock Market Break, and Trump – Podcast With Lindsay Williams
by Lee Adler •
Lindsay Williams asked me about today’s market break, and about Donald Trump. As usual, I did not hold back. Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually it flows to and through Wall Street. So if you want to know the direction of the next…
Federal Reserve QE New, Lee's Free Thinking, Must Read
Today’s POMO 9/26/2019 – Here’s What $1.6B Coupon Purchase Does
by Lee Adler • • 0 Comments
In today’s POMO, the Fed bought $1.6 billion in coupons, to offset shrinkage of its MBS portfolio in the normal process of mortgage prepayments.
Federal Reserve QE New, Lee's Free Thinking, Must Read
Fed POMO – Permanent Open Market Operations – US: $1.801B Coupon Purchase 2019-09-25
by Lee Adler • • 2 Comments
Lest we forget, the Fed is still doing regular small POMO to replace MBS paydowns. But as we saw this week. It’s not enough.
Federal Reserve QE New, Lee's Free Thinking
It’s The Economy, Stupid? No! It’s the Stupid Debt
by Lee Adler • • 0 Comments
The phrase. “It’s the economy, Stupid,” became famous in first Clinton campaign. And Wall Street has always wanted you to believe that indeed, it is the economy, Stupid.
But the game has changed radically in the past two weeks
Lee's Free Thinking
Stock Market Permanently High Plateau – A Launchpad or a Cliff?
by Lee Adler • • 0 Comments
Is the stock market at Irving Fisher’s famous “permanently high plateau?” Is that plateau a launchpad for even higher prices? Or is it perhaps a cliff?
Federal Reserve QE New, Lee's Free Thinking
Look Out Bears! Fed New QE Now Up to $165 Billion
by Lee Adler • • 0 Comments
I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that.
Federal Reserve QE New, Lee's Free Thinking
Federal Reserve Bank of New York Statement On Repurchase Operation – Roll Over Beethoven!
by Lee Adler • • 0 Comments
In accordance with the FOMC Directive issued September 18, 2019, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct an overnight repurchase agreement (repo) operation from 8:15 AM ET to 8:30 AM ET tomorrow, Fri…
Federal Reserve QE New, Lee's Free Thinking
Show Me The Money Jerry! Here’s Why Fed TOMO Repos Will Be a Feature Not a Bug
by Lee Adler • • 3 Comments
The new Fed TOMO (Temporary Open Market Operations) are the first sign that the Fed must move aggressively to counter the tightening of the money markets.
