Term and Type: 103-Day Bill
CMB: Yes
Offering Amount: 40 Billion
Auction Date: 04/08/2020
The S&P ES fucutures are up 90 points. That may not mean what you think.
Macro liquidity measures have absolutely gone through the roof, blown the lid off, set off a tsunami, as US government spending skyrockets to the moon and worlds beyond. US bank deposits aren’t just soaring, they are exploding. These deposits are backed mostly by US Treasury paper, future claims on American taxpayers. These claims for which there’s no reasonable expectation of repayment, other than with severely depreciated dollars. Your stocks may soar, and they may still be worthless.
As the stock market began to rebound, one indicator shows the banks started buying shit like crazy. Like the South Park’s Kyle, the kid who always believed in Mr. Hankey the Christmas Poo, the banks believe in Mr. Powell.
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.
NY Fed treasury securities operations
$5.000B Coupon Purchase
2020-04-07
NY Fed treasury securities operations
$14.000B Coupon Purchase
2020-04-07
NY Fed treasury securities operations
$7.000B Coupon Purchase
2020-04-07
An economy of rackets designed to enrich the few at the expense of the many is brittle because self-serving rackets snuff out competition, accountability and transparency.What’s remarkable about the lockdown isn’t the hue and cry about the economic dam…
On Tuesday, March 18, 2008, the S&P 500 big cap stock index soared. By the end of closing that day, the index had added 4.2%. Investors were increasingly optimistic that new kinds of “stimulus” which had been hastily introduced over the prior few weeks and months would provide enough of a boost so that the […]
When it’s all over with, I think we’re going to find out we’ve all been unnecessarily harmed by two stochastic models. And in the greatest tragic irony of them all, it was entirely predictable. These statistical constructions can’t predict a thing, subject as they all are to GIGO limitations (Garbage In, Garbage Out). It’s the […]