Headed into the last FOMC meeting of the most tumultuous year in modern history, Fed
Category: fomc
Fed Adopts Outcome-Based Forward Guidance, Will Keep Rates Near Zero For At Least 3 Years
Headed into the September meeting, the Fed wasn’t expected to make meaningful changes to the
Fed Not Ready To Roll On Yield-Curve Control
September implementation may be a stretch.
Why Some Stock Bulls Are Excited About Yield-Curve Control
“While it’s impossible to isolate the impact, bulls note…”
Minutes Show Fed Palpably Concerned Second Virus Wave Could Trigger ‘Pessimistic Projection’
“…the staff judged that a more pessimistic projection was no less plausible than the baseline forecast.”
As Fed Cuts Bond Buying With Balance Sheet Near $7 Trillion, Some See ‘Unqualified Good News’
Signs of stress are abating. For now, anyway.
As Fed’s Balance Sheet Tops $6 Trillion, Foreign Central Banks Sell Another $22 Billion In Treasurys
You can draw your own conclusions.
Fed Effectively Tells Banks To Increase Leverage With Rule Upping Exposure Capacity By $1.6 Trillion
“…their exclusion will also not incentivize risk-taking by banking organizations.”
Fed: Stop Selling Treasurys Into An Illiquid Market
“This facility should [provide] an alternative temporary source of US dollars other than sales of securities in the open market”.
Jerome Powell To NBC: ‘We’re Not Going To Run Out Of Ammunition. That Doesn’t Happen.’
“Essentially, the answer to your question is ‘no'”.Â
Fed Moves To Support Money Market Funds In Latest GFC Flashback
Are all the leaks plugged now? Somehow, I doubt it.
Fed Unveils Another Emergency Facility, Says Primary Dealers Can Post Stocks For Cash
“Credit extended may be collateralized by a broad range of IG debt and equity securities”.
Fed Reinstates Emergency Commercial Paper Funding Facility In Move To Avert Crisis
“The commercial paper market has been under considerable strain in recent days”.
Nomura’s McElligott: We’re Seeing ‘Nervous Dollar Hoarding Demand’
“…USD funding pressure continues to mount despite the positive optics of the coordinated global CB FX swap line actions”.
All In. Limit Down.
“The Fed has likely fired off its last bazooka.”
Shock And Awe: Fed Cuts Rates To Zero, Announces $700 Billion In QE, Enhances Swap Lines
Now this a “whatever it takes” moment.
Trump Hints At Demoting Jay Powell To ‘Regular Position’, Says He Took Virus Test
“I haven’t made any decisions on that”.
Fed Brings Out Bazooka. Announces Massive Repos, Expands Asset Purchases Beyond Bills
“These changes are being made to address highly unusual disruptions in Treasury financing”.
Fed Figures ‘Right Now!’ Is Good Time To Upsize Repos As Panic Proliferates
“They should help support smooth functioning of funding markets”.
Dollar-Funding Stress Could Be ‘Crossing The Rubicon’ Moment For Market
Canaries and such.
Fed Harshly Panned For ‘Panic’ Rate Cut. Market Looks To Biden For Relief
Now, in 2020, it’s not clear where we are, besides on the border of lost credibility.
Zoltan Pozsar Takes On COVID-19: ‘Use The Swap Lines, An Uncapped Repo Facility And QE’
“Dollar funding is always the orphaned child of crises”.
Coronavirus Selloff Resembles Lehman In One Key Respect. Will The Emergency Fed Cut Change That?
Is your parachute working?
Fed Delivers Emergency 50 Basis Point Rate Cut Amid Virus Scare, Oversubscribed Repos
“Whatever it takes”, I suppose.
New York Gets The Virus, Buttigieg Quits Race, Caixin Crumbles In Monday News Deluge
Welcome to the new week. Enjoy your stay.
Getting Involved.
In the space of just seven trading days, US equities went from bubble to bust.Â
