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Fed POMO Today – $7.501B Bill Purchase 2019-10-29

Courtesy of Lee Adler

The Fed keeps imagineering money into existence, right on schedule. But a few hundred billion doesn’t buy what it used to anymore. Stocks are only up by the width of a pubic hair, and the 10 year yield, while down a similar hair, is still above yesterday’s breakout line. 

I’ll update my thoughts on this for you later today.

Meanwhile, empty Fedwords:

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.

https://www.newyorkfed.org/markets/pomo/operations/index.html

The post Fed POMO Today – $7.501B Bill Purchase 2019-10-29 was originally published at The Wall Street Examiner – Unspinning Wall Street ™. Follow the money!


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