The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: bart13 who wrote (92492)	3/19/2008 5:29:43 PM
From: Mike Johnston	Read Replies (2) of 110194

Hi Bart, I was wondering if you could help me with this puzzle. Apparently the Fed is draining money big time. 10:18 DJ Fed Seeks Dealer Bids For Coupon Pass By 10:45 AM 10:18 DJ Fed Offers 06-12-2008 Through 07-31-2008 Maturities 10:18 *DJ Fed Sells Securities Outright In Coupon Pass DJ CORRECT: Fed Sells Par Value Of $14.999B Securities Outright I thought that a coupon pass was a permanent purchase of securities, why are they calling a sale of securities a "coupon pass" What is going on ? It looks like they give money out in auctions and discount windows, but are draining SOMA. Thanks

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