Fed repos outstanding from Temporary Open Market Operations (TOMO) hit a new record on Thursday, October 17. That, in just over a month since the program started, to fix a money market problem that was supposed to be a “one-off.”
One-off my ass.
Lee’s Free Thinking
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Federal Reserve Not QE, Lee's Free Thinking
Fed Open Market Operations Today- October 16 -A Sordid Tale of POMO and TOMO QE New
by Lee Adler • • 0 Comments
The Fed started POMO today. But TOMO went up too. Stresses continue to build.
Federal Reserve Not QE, Lee's Free Thinking
Why The Fed Had to Do QE, and Why It May Not Work This Time
by Lee Adler • • 0 Comments
LIndsay Williams interviews Lee on Strictly Business. Recorded Tuesday, October 15. Click headline to hear the interview.
Federal Reserve Not QE, Lee's Free Thinking
Today’s Fed Temporary Open Market Operations (TOMO) Repos, October 15, 2019, Signal a Crisis
by Lee Adler • • 0 Comments
Wall Street and the Fed tell us there’s no crisis. Come on. Get real! They don’t pump $200 billion in cash into the market in a month, with a promise to do more for months to come, unless there’s a crisis.
Federal Reserve Not QE, Lee's Free Thinking
Fed QE New – A Chronicle of Madness
by Lee Adler • • 0 Comments
The story of the Fed’s QE New is a day by day chronical of madness. I’ve written about it extensively even before it started. Here’s a list of those posts, with links to the full post. This archive begins with a couple of antecedents in August as the conditions flared up that led to the…
Federal Reserve Not QE, Lee's Free Thinking
Fed QE Not QE Starts at $80 Billion Monthly, Plus TOMO- The System Is Burning Down
by Lee Adler • • 1 Comment
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.
Federal Reserve Not QE, 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 Not QE, 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 Not QE, 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 Not QE, 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.
