Last QE Lite POMO Closes As Fed Monetizes $6.3 Billion In Debt
As of 11 am the last QE Lite POMO ended, resulting in a resumption in a sell off in risk right on schedule, as even today's $6.3 billion in monetized notes due between 2016 and 2020 is insufficient to keep stocks higher with a jumping dollar. The submitted to accepted ratio was 4.38, up from 3.49 previously. The market is now looking to November 10 when the brand new, and much larger QE2 POMO schedule is announced by the FRBNY.
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