The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (239162)	4/23/2010 7:00:08 PM
From: Les H	Read Replies (1) of 306849

The Dow is up almost 1000 points and for 8 consecutive weeks since replenishment of the Supplementary Financing Program (SFP) at the Fed. As an added note, the Treasury drained the SFP last September by letting the bills run off and we saw a sharp pullback as a result. The previous sharp pullback in July was caused by testing out reverse repos and letting the balance sheet contract during June. I think the January-February sell-off was also caused by shrinkage in the SFP due to the statutory borrowing caps being hit. SFP is now fully funded as of last week and just refinancing itself indefinitely using 8wk bills. treasuryauctionwatch.blogspot.com

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