80% Of Today's POMO Is Bond Auctioned Off Last Thursday
We have repeatedly observed and commented on the painfully hilarious, thanks to Ben "the Fed will not monetize debt" pattern of the Fed monetizing the OTR just auctioned off bond in its daily POMOs so there is little we can add here suffice to say that the one CUSIP accounting for over 80% of today's $3.7 billion POMO targeting the 01/31/2019 - 03/31/2020 range, at precisely $3 billion, was 912828UV0. What is 912828UV0? This is the 7 Year bond that was auctioned off last Thursday, and which saw $13 billion going to Primary Dealers (make that $10 billion now). In other news, the Fed Chairman does not, repeat not, perjure himself under oath. Ever.
Today's POMO (which so far hasn't done much to instill confidence in central planning courtesy of yet another no volume stock market levitation):
And the details of the just auctioned off last Thursday 912828UV0 7 Year:
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