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On Tap Today: Double POMO For MOMO
The Fed is not taking any chances: on the day in which every index is broadly expected to slip into uncharted, even-number territory, Kevin Henry and the other NY Fed Inkjets are making sure to seal the deal not with one but two POMOs, the first one starting at its usual time of 10:15 am for about $1.5 billion, and the second at 1:15pm for a 2 pm closing amounting to roughly $3.5 billion. Since the total will likely be above the magical $5 billion threshold, the probability of a down day is virtually nil.
Why is $5 billion so critical? The TBAC explained it in August...
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Criminal.
When can the Fed no longer proceed at this pace because of shortage of Treasuries to buy?
Just like Obamacare!
What a wonderful government we have... to get rid of!
This shit is just fucking disgusting yet all that is left for this crime ridden fraud they call Wall Street!
when printing once a day is no longer enough.....print twice....until you have to print every 30 minutes....
And another banana for Mojo Jojo.
Bernanke for Mayor of Toronto!
Double POMO for the MOMOs?
YOLO!
Where can I find such information for my own trading needs?
http://www.newyorkfed.org/markets/tot_operation_schedule.html
Your dollar will buy you something....until it doesn't. The USD stinks like a dead cat left for three days.
The putrid USD is held up by the rotting stems of Japan and Europe and the pragmatism of China.
What growth can come out of the US, what industries are going to create employment to fix the job losses since 2008.
The USA can only do one thing....print increasing amounts of dollars to pay ever increasing bills.... until butterfly wings somewhere create a cascade.
You can expect the Fed to double, triple QE until it reaches some absurd amount.
Signs of desperation and a dying fiat and to go off the cliff with Japan.
If the question is will the Federal Reserve intervene to stop a US dollar collapse the fed is answering the question.
I long for the days of "the pump team" here on ZH, remember? back then it was commonly understood that .fed was buying directly in the markets, so what has changed?
The Fed is too scared to even manipulate the market to look like a normal market..... they are so shit scared that even minor drops make them shit their pants.
why the double pomo today?
this shit is laughable.
the only thing i was happy about this morning was rick santellis little rant basically on steve liesman, saying how the fed can do whatever the fuck they want, because eventually the bond market will speak up whether the fed likes it or not.
we shall see.
just laugh when we hit the milestones today on the indexes, its too funny not to laugh at this point, because soon people will be fucking crying how everything is gone.
Rick is another paper-pushing leach who adds nothing of real value. He is a bond guy, and the Fed is destroying that "market". I'd be pissed too if some academic entity was destroying my livelyhood.
Interest rates will be whatever the Fed wants them to be...
Hedge accordingly.
The Fed is now, and will forever be, petrified that uber-leveraged residential housing will follow the path of Japan ..to 1983 levels.
http://www.doctorhousingbubble.com/japan-real-estate-bubble-home-prices-back-30-years-zero-percent-mortgage-rates/japanese-home-prices/
Fuck Yeah! Double Pomo Momo Mo Fro..... and Bithcez Too, keep on pumping until your balls turn blue.
Maybe David Tepper will use today's up day to conduct one of his taper commedy routines.
What is the "official" reasoning behind a double POMO?
18 of the last 22 POMO Monday's have closed RED, so perhaps the double POMO is an attempt to break that undesirable tendency.
I think they want those headlines....
(After the close..)
the probability of a down day is virtually nil.
Unless you're in the PM market. This is insanity.
Roll the guillotines.
So.. we're going to really need an acronym for buy the all time higherest fucking highest muthafuckin' high? Really?