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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: orkrious who wrote (196941)10/11/2002 7:06:43 AM
From: orkrious  Read Replies (4) of 436258
 
FWIW, from a lurker's email to me

I'm one of the multitude of lurkers who appreciates the information and
general discussion at CFZ. I thought the following information might be
of interest to others there. This is from a subscription service,
piraz.com (Moto).

It seems the Fed has been conducting unannounced coupon passes over the
past week, as reported on their weekly statement. The total amount of
bills purchased is $3.316 B, which Moto says is similar to amounts
announced preceding the July low.

This is not a full report or analysis (which is provided weekly), but he
does mention in passing the possibility of attempting to put a bottom in
the market and the near proximity of the US elections. In any case, the
behaviour of the Fed, both in actions and the lack of announcement, is
atypical.

It seems the unusual restraint of the Fed - four days of no repos! - was
outright deception.

I hope you will post this information for others.
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