NYFed treasury securities operations
$4.346B Coupon Purchase 2020-04-08
Treasury issuance will go through the roof over the next 5 days while the Fed has decided to cut back its support. That’s a bad…
Toward the end of March 2012, then-Federal Reserve Chairman Ben Bernanke was busy with so many things. It wasn’t supposed to have been that way, not after two “massive” QE’s launched in the wake of the Great “Recession.” After all, V-shaped recoveries provide their own momentum upon which central bankers might piggy-back. In short, there […]
Term and Type: 40-Day Bill
CMB: Yes
Offering Amount: 45 Billion
Auction Date: 04/08/2020
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