Fed has Officially Gone 4/5 Total/Complete Ape-Shit Today.
Fed USED TO only buy/sell 3 month UST -- LOL THE GOOD DAYS.
Now the Fed buys:
Long UST bonds.
Mortgage bonds.
'Investment' grade corporates.
and today...
Junk (should be bankrupt) bonds.
...only thing left is buying up the stock market, the ultimate buyback, which J. Yellen says the Fed NEEDS approval to do from Congress ASAP! No word if they want to buy soybeans, but I wouldn't be surprised if they do!
All this will/is killing the USD, which paradoxically, is the mortal enemy of the Fed!
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