Money to Infinity-Confirmed: Will Do Open-Ended MBS Buying, Extends Operation Twist
Friday, September 14, 2012 4:31
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zerohedge.com
Bernanke has acquiesced and is now the 4th branch of the status quo- and all is well in the world:
- *FED TO KEEP POLICY STIMULATIVE FOR `CONSIDERABLE TIME’
- *FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN’T IMPROVE
- *FED DOES NOT SAY WHEN MBS PURCHASE PROGRAM TO END
- *FED TO BUY $40B MBS MONTHLY, CONTINUE `OPERATION TWIST’
- *FED TO BUY MBS, EXTENDS ZERO-RATE POLICY INTO 2015
To summarize:
- The good news: The Fed’s NEWER, OPEN-ENDED and NEVERENDING QE is bigger, longer, and has a Retina display (however its battery life is far shorter).
- The bad news: The Fed has now confirmed it is merely a sad, political, self-frontrunning caricature of what a central bank should be.
Pre-FOMC:
S&P 500 Cash 1437.9
S&P 500 Futures 1437
Dow 13345.43
10Y 1.7247
5Y 0.6522
30Y 2.8815
EUR 1.2895
MBS Spread 0.57993
Gold 1724.35
Silver 32.77
WTI Oil 97.23
USD Index 79.70237
Apple 676.91
Read More: zerohedge.com
2012-09-14 04:24:02
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