New York Fed Announces It Will Conduct 7 POMO Operations Beginning July 1 As Part Of Continuing QE Lite

Cha Ching.. print more money

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New York Fed Announces It Will Conduct 7 POMO Operations Beginning July 1 As Part Of Continuing QE Lite

http://www.zerohedge.com/article/new-york-fed-announces-it-will-conduct-7-pomo-operations-beginning-july-1-part-continuing-qe

Just as expected, the New York Fed disclosed that even as QE2 is being halted (briefly), QE Lite purchases of maturing securities will continue, across the Fed's 7 maturity segments: "At this time, the Desk anticipates conducting one operation per month in each maturity sector." As we have calculated before the total amount of monthly "flow" purchases will be about $32 billion, and likely declining, as less and less MBS are prepaid to the Fed. In other words, the bulk of purchases will once again be at the belly, with the least amount dedicated to the long-end, followed only by the 1.5-2.5 year segment, which however, if Bill Gross is right, will see a surge in activity as soon as Operation Twist 2 is announced at this year's Jackson Hole meeting.

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