$270 Billion Of POMOs To Date Running Ahead Of Schedule
With ever increasing interest in the Fed's (in)direct monetization strategies, Zero Hedge is presenting detailed data highlighting the specific of all the 50 POMOs conducted to date. We are now compiling cost-basis information to determine what the cumulative hit to the Fed may have been as a result of price fluctuations of the repurchased Treasuries since issuance.
A chart of the cumulative POMO purchases versus the expected trendline through the program's termination in early October, demonstrates a slightly overzealous Fed, which at this rate of OMO purchases has enough dry powder to only last it through the second week of September. It seems QE for Treasuries will end some time in the next 20 days, whether the Fed likes it or not.