The last QE2 open market operation: $12.47bn of Treasuries tendered by primary dealers, $4.91bn accepted by the Fed, $4.4bn of which was yesterday’s new seven-year bond.

As highlighted in FT Alphaville’s tombstone (data via Reuters):

Talk about flipping the bird.

Oh, and the yield on ten-year Treasuries had risen to a seven-week of above 3.2 per cent before pulling back a bit at pixel time. (Not that the two items are related, of course.)

Related links:
The Pomo flip – FT Alphaville
Beware the special US Treasury market – FT Alphaville

 

This entry was posted by Joseph Cotterill on Thursday, June 30th, 2011 at 17:01 and is filed under Capital markets. Tagged with federal reserve, POMO, qe2, quantitative easing, Treasuries. Edit this entry.