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Today's POMO Announced With 28 CUSIPs Permitted For Monetization
Today's POMO eligible CUSIP list has been released: 28 different securities means a solid $3-5 billion in tender interest, although judging by last week's paltry notional submission in the long-end POMO, we wouldn't be surprised if more and more PD opt to hang on to whatever is providing any yield in this market. On the other hand, why wait a year to collect 1% when you can just buy Netflix and collect that in one 4 hour flip. The full results and the traditional fade begins at the usual 11:00 am time slot. What is distrubring is that ever more CUSIPs make the exclusion list: today 11 bonds are ineligible for repurchase, because, we assume, 35% SOMA holding limits and cheapest to deliver thresholds have been breached. Little by little the Fed will have increasingly less open market optionatlity and will be forced to monetize directly at auction.
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Solid $3-5 Billion in tender interest,my arse,freshly printed paper to keep the ponzi alive.Pissing in the wind.
"Little by little the Fed will have increasingly less open market optionatlity and will be forced to monetize directly at auction."
As opposed to the indirect monetization at auction they've been practicing since 3/09?
Cleared to new highs.
Pump it up:
http://www.youtube.com/watch?v=1K7fL5s_1ac
@ 10:35am EDT
Gold = 1333
Silver = 22.39.
Whoa.
12:43 NYC
$1339
$22.70
Go, Go,Go Silver...........................
Apparently it is good time to buy Brazillian utilities, 7%+ in just over 24 hours.
http://www.google.com/finance?chdnp=0&chdd=1&chds=1&chdv=1&chvs=Linear&c...
It's all rigged till the election, market will not fall, if it does it won't last long. When you have the index futures you can goose up overnight on thin trade, you might as well not fight it.
Short positions in equities is not wise.
Serious question. For those who do TA, does the Pomo ramp ups count?
Same for the mini flash crashes we get, does that skew charting or is it removed and ignored?
They will keep pumping it up until the November elections. Then all hell will break loose.
Merry Christmas to all, and to all a good night!
Sincerely,
Uncle Ben
Market cannot fall mostly owned by QE crap.
Check out JPY. My QE II is bigger than your QE II.
how in the world do they plan to explain these ramps in the market to the public;
things are so bad we need more QE but the "market" never goes down?
Aaaaand Gold and Silver just took off. Silver through $22.50 and gold went right through $1335 without slowing.
Kitco's site is struggling, must be a lot of people watching today.
Rise in gold just shows the fraud of it all. People aren't playing the race tom the bottom fiat game
I want to know who the dumb fucks are that keep shorting this crap and getting sqeezed by the fed.
And POMO shutdown in 3...2...
The real question is if primary dealers are purchasing to whom do they expect to sell these inflated equities? If they receive money for bonds does that mean they purchase equities immediately and only from 10:15 to 11:00 EST?
As someone else stated, I believe a lot of these equity moves up are simple speculators doing the buying while primary dealers may not be doing much of anything. The smart money is not going to be caught holding the bag that I can assure.
Dumb question, perhaps: are the PDs buying the equities for themselves or on behalf of the govt? if the latter, then taxpayers are on the hook, aren't we?
Great question...one would hope for themselves but I would not count on that...some of them are just extensions of the Fed.
and there we go... just above 5 bil...
http://www.newyorkfed.org/markets/pomo/display/index.cfm
Does POMO (as a program) have an expiration?
Beats me, but my October premium sure does. *sigh* here we go again. Wake me up when the 'spike-and-flag' chart patterns stop appearing every POMO day.