click here for zero hedge where i got this information
Below is the 10:00 am announcement of a new $5 billion auction of 2 Year Fannie Agencies:
A mere half hour later, the NY Fed announced that as part of tomorrow's "Outright Agency Coupon Purchase" precisely this CUSIP would be one of the securities repurchased:
These shell games are getting tiresome. A half an hour turnaround time between issuance and buyback? Really Ben?
As Jim Bianco comments, some answers are far overdue, when trying to explain this most blatant example of monetization to date.
1. Who bought these securities at auction? The potential for foul play here is high if the news of such a buyback accidentally leaked to a few individuals in the market
2. Who does the Federal Reserve think it is fooling by monetizing in such a roundabout way?
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