Fed Cancels Bond-Buying Plan Today, Blames 'Technical Difficulties'

Tyler Durden's Photo
by Tyler Durden
Tuesday, Jan 18, 2022 - 03:44 PM

The New York Fed just issued a statement that is is rescheduling today's planned Treasury Purchase due to "technical difficulties":

Due to technical difficulties, today’s Treasury outright purchase operation - scheduled for 10:10 AM in the 4.5 to 7 year sector for up to $6.025 billion - is being rescheduled.

It is now scheduled to take place Wednesday, January 19, 2022 at 10:10 AM. Information on Treasury securities operations can be found on the New York Fed’s webpage.

This does not impact any other operations scheduled for today.

This helped push the belly of the curve to the high (yields) of the day...

One wonders what kind of "technical difficulty" there could be? Haven't they had enough practice at this by now?