"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Thursday, December 9, 2010

POMO Sugar On Me!

POMO day again. This time the Treasury was looking to buy Coupons[1]. $33.126 billion were submitted. $8.309 billion were purchased. Net effect on the bond market? Negligible, according to Bloomberg.
I now return you to your regularly scheduled market day.
[1] I got nothing here. I think they're the interest payments that you have left over when you take regular Treasuries and make STRIPS out of them, but I'm not positive.
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