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发表于 2009-9-23 05:55 PM
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Neither business or consumer activity supports stock prices or provides us with any sort of indication that credit demand growth is going to return any time soon.
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To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve’s purchases of $300 billion of Treasury securities will be completed by the end of October 2009.
The flood of monetization that powered the market from 666 to 1070 is ending. We're going to taper this program down, mostly because we're rapidly becoming the entire market, and that's bad news (never mind that we might wind up with ALL of the credit risk, especially in the MBS market, which is substantial! That would suck.)
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同问,俺也没读出收缩信号。
Mittens 发表于 2009-9-23 15:54 
何以见得?
Cobra 发表于 2009-9-23 15:24  |
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