Federal Reserve POMO Is Back!

and the stock market melts up, like old times.

The Federal Reserve Bank of New York conducted a Permanent Open Market Operation (POMO) to buy Treasuries to the tune of $2.5 billion, its first since October 2009.

From the NY Fed:

Operation Date: 08/17/2010
Operation Type: Outright Coupon Purchase
Release Time: 10:15 AM
Close Time: 11:00 AM
Settlement Date: 08/18/2010
Maturity/Call Date Range: 08/15/2014 - 07/31/2016

Total Par Amt Accepted (mlns) : $2,551
Total Par Amt Submitted (mlns) : $20,949

For detailed schedule, see my other blog. (And just don't short the stock market on those days...)

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