12pm update - its that time again

The FOMC annoucement is due at 12.30, and lets see if they follow through with their original intent of 45bn t-bond buying - as stated at the September FOMC.In addition to the 40bn of MBS, this would make a monthly 85bn, starting next month, 1 trillion a year.....without end.


sp'60min

Summary

Its time for lunch...but also time to see what the paper printing maniacs have decided.

As ever, the initial reaction will NOT be reliable, and as we saw in retrospect, it took some days to realise that mid-September was actually the cycle peak.

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updates..as necessary !

UPDATE 12.33pm. no surprises..45bn t-bond buying..as ALREADY announced in mid-September.

I find it amusing the fed said 'initially 45bn'. Yeah..have NO doubt, the Fed will be buying ALL the t-bonds within a year., so..that 45bn will ramp to 100bn eventually..., thats not including the 40bn of MBS.

UPDATE 12.42pm.. the algo-bots are triggering the 1434 stops.

Kick em' all out..before the real move..to the downside later ?

sp'60min

A close <1420 is very viable by the close.

*don't forget, benny does a press chat @ 2.15pm