Federal Reserve

Week 9 Since Peak-QE: Update on the Fed’s Assets

by Wolf Richter • Aug 13, 2020 • 59 Comments

Repos at $0. SPVs fell for sixth week. Dollar liquidity swaps fell for 9th week. MBS unchanged for 3rd week. Treasuries rose.

Dollar’s Purchasing Power Drops to Lowest Ever. Inflation Heats Up, as Fed Wants, After Simultaneous Supply & Demand Shocks

by Wolf Richter • Aug 12, 2020 • 186 Comments

“We’re not even thinking about thinking about” slowing the decline of the dollar’s purchasing power — and thereby labor’s purchasing power.

Corporate Bond & Junk Bond Markets Driven into Foaming-at-the-Mouth Exuberance by Fed Jawboning about Huge Purchases. But it Actually Bought Just Tiny Amounts

by Wolf Richter • Aug 11, 2020 • 74 Comments

Here are the details on its purchases and holdings in July.

Fed’s Assets Fall by $16 Billion, -$220 Billion Since June 10: Week 7 of Balance Sheet Shrinkage

by Wolf Richter • Jul 30, 2020 • 72 Comments

Repos are gone. Dollar liquidity swaps dropped further. SPVs fell to lowest since June 17. MBS dropped by $37 billion. Treasuries rose.

Week Six of Fed’s Lumpy Shrinkage of its Assets

by Wolf Richter • Jul 23, 2020 • 66 Comments

Repos zilch, gone. Dollar liquidity swaps on their way out. SPVs flat for five weeks, but composition is changing. Treasuries edged up by smallest amount all year. MBS rose.

QE Unwind Speeds Up: Fed’s Assets Drop $85 Billion. Four-Week Total -$248 Billion. Big Chunk in a Short Time

by Wolf Richter • Jul 9, 2020 • 92 Comments

Repos & dollar liquidity swaps on their way out. SPVs declined. Hardly bought any corporate bonds & ETFs. MBS flat. Treasuries ticked up.

QE Unwinds: Fed’s Assets Drop for 3rd Week, Another -$76 Billion. 3-Week Total: -$163 Billion

by Wolf Richter • Jul 3, 2020 • 107 Comments

Fed shifts to propping up consumption by businesses and governments, and away from propping up asset prices.

Fed Discloses it Bought Tiny Amounts of Corporate Bonds, Including a Whopping $15.5 Million (with an M) in Junk Bonds

by Wolf Richter • Jun 28, 2020 • 83 Comments

Here are the 84 companies whose bonds the Fed bought, and the 16 bond ETFs it now holds.

Plot Thickens on End of QE & Start of Shedding Assets

by Wolf Richter • Jun 22, 2020 • 82 Comments

Fed leads in trimming its balance sheet; Now Bank of England governor publishes the reasoning for central banks to shed assets – before raising interest rates. A big shift!

I, Who Hates Shorting, Just Shorted the Entire Stock Market. Here’s Why

by Wolf Richter • Jun 19, 2020 • 429 Comments

I’m sharing this trade for your future entertainment so you can hail me as the obliterating moron that infamously shorted the greatest rally floating weightlessly ever higher above the worst economic and corporate crisis imaginable.

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