Not sitting in their accounts. Offered by the Fed. Not even available because only Treasury and MBS collateral accepted.
I addressed that point specifically in this report. The fact that they would pay down repos, and have in fact been doing so, …
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.
US: $3.601B CouponPurchase 2020-06-18 NYFed treasury securities operations
Primary dealers have been gradually paying down their outstanding repo loans from the Fed, just as we have long expected. This has momentous implications for the stock and bond markets. You need to see these charts!
High Yield: 1.314%
Total Tendered: $47,072,490,300
Total Accepted: $19,325,136,300
Moratorium applies to Enterprise-backed mortgages Washington, D.C. – Today, to help borrowers and renters who are at risk of losing their home due to the coronavirus…
This is too hard to bear.
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 $4.401B Coupon Purchase 2020-06-17 NY Fed treasury securities operations
Small caps drop over 15% in 4 days only to rally over 10% in less than 24 hours. A rally was not a surprise after such a steep and fast drop. What […]