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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (124418)9/20/2001 7:39:45 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
from another trader site:

<<I am a banker. I'll pass along a tidbit that demonstrates just how much liquidity the Fed has dumped into the system.
A couple of days ago, we sold Fed Funds at 1%. Forget about the Fed's posted target.

This morning we went to sell Funds, and there were NO BIDS. None. Nada. Zip. At no price.

I would presume that extraordinary situation changed later in the morning / day, did not check back with those who watch such things.

But if ever one were to see a sign that liquidity is so extremely high there are NO BUYERS of Fed Funds, folks lemme tell ya there it is.

Whatever else happens from here on out, nobody will ever be able to argue the Fed failed to flood the system with money>>

well, we knew that, but still...
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