Loading ...Maddog – ZH has another article that discusses the Fed may announce QE today but describe it as Permanent Open Market Operations (POMO) rather than say QE that may panic the markets. I’d think if they use that POMO language we’re going to see some pretty good volatility after the announcement. I’d also expect Powell will get some questions about the Repo activity of the last two days in the Q & A. Hope he’s prepared to tread lightly.
R6 – Looks like they are shaking the pm tree prior to the Fed announcement. Either someone knows something or they are giving themselves some room to cover. I’d almost prefer to see a pre-announcement hit like we’re seeing now. But who knows?