On October 13, the FOMC announced their POMO schedule for the next four weeks: nine sessions totaling an estimated $32B in treasury purchases. Three sessions remain:
Monday, November 1
Thursday, November 4
Monday, November 8
While we don't know the size of each POMO beforehand, the Fed does release historical data on their operations. So we know that the Fed has purchased slightly less than ~$18B in treasuries during the first six POMOs announced on October 13 (about ~$3B per). Which means these last 3 POMOs should be significantly larger than the first six, accounting for ~$14B total with a mean of ~$4.7B per POMO.
The Fed will announce their next POMO schedule on Wednesday, November 10.
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Parker,
ReplyDeleteis it possible the market continues to push higher to the 2nd week of nov? with no near term pullback?
Jesse
Good info.
ReplyDeleteIt's a bit ironic (and surprising) that this may be the first POMO in a while where we close lower! Big boys using early morning highs for distribution in anticipation of the market tanking after Fedspeak on Wednesday?