A day early -
Reuters
Fed adds $5.0 bln reserves via 29-day repos
Wednesday November 27, 9:17 am ET
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I said this on Monday -
Monday, Nov. 25, 2002
overnight repo, 4B
4 day repo, 4B
expiring repo's
a 5 day repo of 5.5B exps WEd, 27th
a 28 day repo of 3B exps Dec. 19th
a 28 day repo of 5B exps Dec. 12th
a 28 day repo of 5B exps Dec. 5th
all other repos have expired.
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There is an obvious pattern etched out above.
If the patterns holds true, and I expect that it will, Friday, Nov. 29th, the Fed should
open a large 28-day repo that will expire Dec. 26.
I would expect a 5B repo but it could be more.
And I expect Friday will be an up day in the market. DOH!
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On top of all of this, yesterday they added an overnite repo of 8.5B. Since it expired today, they replaced that with a 5 day repo this am, of 7B.
To note, NONE of this funny money has been permanent injections - |
