Back to resistance this morning. That was posted earlier this morning. Now it should say “back through resistance.”
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Fed QE: $1.732B Coupon Purchase 2020-08-12
We are becoming numb to the sheer size of the public health disaster that is unfolding in the U.S. Numb, careless and utterly devoid of any concern for those around us. Here are the latest numbers.
Last week the question was whether hitting the February gap had any relevance. Other than a bit back and forth it did not and market continued higher according to the program that […]
Kill the algos before they kill us. If you haven’t noticed there’s a specific program running through markets this August, it’s not humans making collective price decisions.
Behavioural differences between professional forecasters, economic analysts and business practitioners are vast,
Term and Type: 3-Year Note
High Yield: 0.179%
Total Tendered: $145,783,845,000
Total Accepted: $76,548,181,000
That said, there have been warnings for several weeks.
Excess liquidity kills volatility and causes bids to rise relentlessly. But when you zoom in to hourly or shorter, it’s whippy. Whipsaws and false breakouts galore. They’re brutalizing day traders.