POMO Results: $3.9 Billion Monetized, At 4.1 Submitted-to-Accepted Ratio
The Fed just completed today's POMO. The result: $3.9 billion in debt monetized, and swiftly used by the PDs to force the Ponzi ramp to new ludicrous heights. This brings the weekly high beta stock liquidity injection courtesy of Brian Sack to just under $12 billion. After all gotta get the sheeple in: otherwise what greater fool will the HFTs and insiders sell their holdings at ever higher cost bases to? Also, the Fed is just oh so generous: the submitted to accepted ratio was the lowest during the entire QE Lite episode so far. Even banks are not all that confident they can convert the "sure money" from USTs into risk free return in a 1,000,000 PE Amazon, of course assuming the Kindle expert does not begin selling crack cocaine on its website (at margins that may for once be positive).