The Fed has cut back on its outright Treasury purchases. But the Treasury is still pounding away at the market, flooding it with enormous amounts of new supply day after day.
This should be bearish, but so far it hasn’t been. Here’s how that could change today.
NY Fed treasury securities operations $4.632B TIPS Purchase 2020-04-09
NY Fed treasury securities operations (POMO) $4.632B TIPS Purchase 2020-04-09
(POMO) $10.000B Coupon Purchase 2020-04-09
Fed $3.866B Coupon Purchase 2020-04-09, NYFed treasury securities operations
NYFed treasury securities operations (POMO) $3.866B Coupon Purchase 2020-04-09
NYFed treasury securities operations$14.000B Coupon Purchase 2020-04-09
(POMO) $6.0B Billion Purchase 2020-04-09
Put another way: eras end.While the mainstream media understandably focuses on the here and now of the pandemic, some commentators are looking at the long-term consequences. Here is a small sampling:Coronavirus, synchronous failure and the gl…
Way to go, fellas. The FOMC minutes for the crucial March 2020 meeting further make a mockery of everything the central bank should stand for. Nowadays, the Federal Reserve is thought about in terms of its inflation and employment mandates. Nothing whatsoever to do with the monetary system, at least not directly. That’s the way […]
