I look at opening charts, then go right to zero hedge for why LMAOOOOOOOOOOOOOOOO
Thanks Tyler..............
Submitted by Tyler Durden on 06/20/2011 08:26 -0400
* Bill Gross
* Black Swan
* POMO
As QE 2 enters its (black) swan song phase, today the Fed will conduct only the first dual POMO of 2011. While two POMOs per day were a regular fixture back in 2010 when the Fed had to give the impression that "profits and earnings ratios" were low enough, they had been missing in the current year... So far. At 11pm and then at 2pm, Sack-Frost team will conduct two $4-5 billion POMOs, the first one targeting 10 years, the second, buying up 3 Year bonds. Which incidentally will be a good test to see if PDs are now in the Bill Gross camp expecting Operation Twist 2 to focus on the 2-3 year space. As a reminder, last week's 2 Year POMO saw exactly zero On The Run bonds monetized, after Bill tweeted his now infamous "QE3" tweet. In other words, while we expect Dealers to go balls to the wall in flipping the just auctioned off 10 Year reopening in the form of Cusip QN3, their interest in flipping the recently auctioned off QS2 will be far more muted. On the other hand, if QS2 is shuffled back to Sack wholesale, it may simply mean that PDs believe that the Fed will target just the 2 Year and leave the 3 Year+ part of the curve floating in the wind. We will know the result of this experiment at 11am EDT. Stay tuned. And in other news, following today's POMO completion, there will be just 7 more POMO days, for a total of $29.5 billion in maximum notional of Netflix share purchases by the PDs.
chart,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
http://www.zerohedge.com/article/first-dual-pomo-2011-deck-provide-clues-operation-twist-2?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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