Saturday, October 16, 2010

Treasury Auctions and Fed Buybacks

This past week the Treasury has auctioned off:

$27 Billion in 26-week Bills on October 12, 2010
$29 Billion in 13-week Bills on October 12, 2010
$32 Billion in 3-year Notes on October 12 2010
$25 Billion in 4-week Bills on October 13, 2010
$13 Billion in 30-year Bonds on October 14, 2010

Also, the Fed has conducted a purchase of $4.69 billion in Treasury Notes on October 15, 2010.  Such Permanent Open Market Operations are described as follows:

The purchase or sale of Treasury securities on an outright basis adds or drains reserves available in the banking system. Such transactions are arranged on a routine basis to offset other changes in the Federal Reserve’s balance sheet in conjunction with efforts to maintain conditions in the market for reserves consistent with the federal funds target rate set by the Federal Open Market Committee (FOMC).

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