Chi2 says> Thursdays are BigFedDays for AddingBillionsOrDraining ... tomorrow will be another big action day. Since 2 weeks ago the FederalReserve has cut its Daily MrktOpns from 133B to Wednesdays 107B. Thursday is always the big maturity day, tomorrow, 22Billion will mature. If nothing is added, the drain will be down to 85billion in MrktOpns.
The Fed has been gradually "lowering" its MrktOpns funding. This funding has many effects including the liquidity of the banking system, the stock market effects, the interest rates will tend to increase, the US Dollar will tend to be supported.
Big Drains cause the Stk Mrkt to suffer! One of the most severe recent days in the Stk Mrkt was in the week the Fed cut the Mrkt Opns from the recent peak of 133B. For what its worth the bigger cut that week was on a Thursday, and so was the bigger mrkt drop that week.
Watch Bob3's posts tomorrow and everyday to see how the Fed's action is doing. Big drain days or Big add days seem to directly effect the markets within a few hours.
Normal Fed actions for Thursdays are 2 or 3 adds. These will start about 9:40am and possibly extend to 11am. Bob3 posts each and tells you how many have occurred that day.
Bob3 also posts the Fed source URL, and some other important perspective info, including graphical data for comparisons.
Bob3 has been watching and posting Fed MrktOpns data on our boards for several years now, if my recall is correctly, he started do it in about 2002, i just saw a post of his from March 2003 giving this data. We moved to this board in Dec 2002 from our previous board.
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