Monday, November 1, 2010

POMO Is Important for Stock Market Performance

POMO (Permanent Open Market Operations) does matter –

http://www.ritholtz.com/blog/wp-content/uploads/2010/10/pomostock1029101_big.gif



Today's POMO included the Fed buying back Treasuries that they issued only 2 WEEKS AGO! Bonds got creamed on the purchase, mainly the Fed only bought a small fraction of what was offered for sale by the Dealers.

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