Fed to Purchase $105 Billion of Treasuries Over Next Month

Nov. 10 (Bloomberg) -- The Federal Reserve will purchase $105 billion of Treasuries over the next month as policy makers expand monetary stimulus measures to reduce unemployment and avert deflation.

The central bank will conduct 18 open market operation from Nov. 12 through Dec. 9, according to a statement today on the Federal Reserve Bank of New York’s website. The central bank is buying an additional $600 billion of Treasuries through June and expects to reinvest $250 billion to $300 billion of proceeds from mortgage-backed debt and agency securities into Treasuries.

The policy-setting Federal Open Market Committee embarked on a second round of unconventional monetary stimulus on Nov. 3 after a benchmark interest rate near zero and an earlier program to buy $1.7 trillion of securities failed to bring down an unemployment rate that’s stuck near a 26-year high. The transactions announced today will be comprised of $75 billion of new purchases and $30 billion of reinvestment proceeds.

“Virtually every maturity sector is a winner in some sense as the overall pace of the Fed’s purchases will more than triple,” Louis Crandall, chief economist at Wrightson ICAP LLC in Jersey City, New Jersey, wrote in a note on Nov. 8. “The biggest beneficiaries will be seasoned 10-year notes. The Fed’s monthly purchases of seasoned 10-year notes between now and June will exceed the Treasury’s average gross issuance of new 10-year notes.”

http://noir.bloomberg.com/apps/news?pid=20601087&sid=ajFAc8B3Bu.8&pos=1

I think Christmas is going to be named "banksters day"...

 

Well now. Had a great day on the phone with clients raising more money for Brazil Ventures. Off to have some starbucks and to take the AR 15 out to the range. Who gives a rats ass about the FED. I let you guys worry about how much "Treasuries" will be bought by the idiots.

I'm in Texas, where the land is plenty, Guns are good, and money is being made.

Fuck the FED. I'm seeing more and more money flow outa this country. As Ron said, the FED will destroy its self...however, most the country will suffer for it.