Economic Charts

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Tuesday, September 28, 2010

POMO Completed for 550 Million Dollars

Another POMO (Permanent Open Market Operation) purchase was performed today for $550 Million.  Again, POMO is where the FBNY( Federal Reserver Bank of NY) purchases Treasury securities from the Primary Dealers, thus infusing the primary dealers with cash (or the Par Amt Accepted).   This is tax payer money as the primary dealers never had this cash to begin with and becomes the tax payers bill in the end.  Of course we don't know what that bill is as nobody we cannot see the FEDs balance sheet.  ZeroHedge reports that AMZN, AAPL and NFLX were injected with the money, by the primary dealers, to hold up the market.  Here is the POMO graph since August:
POMO Operation:
Operation 1 - RESULTS
Operation Date:   09/28/2010 Operation Type:   Outright TIPS Purchase  
Release Time:   10:15 AM  
Close Time:   11:00 AM  
Settlement Date:   09/29/2010  
Maturity/Call Date Range:   01/15/2011 - 02/15/2040
Total Par Amt Accepted (mlns) : $550  
Total Par Amt Submitted (mlns) : $6,821  

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