102-Day Bill Offering Amount: 40 Billion
39-Day Bill High Rate: 0.080% Total Accepted: $45,000,378,600
Term and Type: 119-Day Bill Total Accepted: $40,000,546,500 High Rate: 0.130%
The Fed is buying all the new Treasury supply with enough cash left over for the dealers to mount a defense. They aren’t.
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.
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.
The Washington Post began this week by noting how the US economy seems to have lost its purported zip just when it needed that vitality the most. Never missing a chance to take a partisan swipe, of course, still there’s quite a lot of truth behind the charge. An actual economic boom produces cushion, enough […]
The Fed has cut back its direct cash injections to Primary Dealers this week. So far it has bought approximately $92 billion per day in…
The US Treasury will bomb the markets with $288 billion in new supply over the next 7 days.
This supply hits a market where structures are still collapsing and burning despite the Fed’s rescue programs. Those programs only exacerbate and prolong the causes of this disaster:
The more I read and observe the clearer the message: Nobody knows anything. And by that I mean nobody truly knows how any of this will turn out and I think this point […]