Friday, August 14, 2009

New York Fed Open Market Operation Result for 8/14/2009

As part of the permanent Open Market Operation (OMO), the New York Fed purchased agency bonds today.

  • Operation type: Outright Agency Coupon Purchase
  • Total Par Amt Accepted: $1,784 million
  • Total Par Amt Submitted: $4,455 million
  • Maturity Date Range: 08/14/13 - 01/19/16

Thursday, August 13, 2009

Treasury Auction Result for 8/13/2009

The U.S. Treasury Department auctioned the following Treasury securities today.

303-day Cash Management Bill (CMB*): $36 billion

  • Primary Dealer: $22.81 billion
  • Indirect Bidder: $11.58 billion
  • Indirect Bidder Percentage: 32.2%
  • Bid to Cover Ratio: 3.28
  • Investment Rate: 0.452%
  • High Rate: 0.445% (allotted at high: 0.46%)
30-year Bond (CUSIP: 912810QC5): $15 billion, new issue ($1 billion more than the last new issue in May)
  • Primary Dealer: $6.46 billion
  • Indirect Bidder: $7.20 billion
  • Indirect Bidder Percentage: 48%
  • Bid to Cover Ratio: 2.54 (May new issue: 2.14 )
  • Interest Rate: 4.500% (May new issue: 4.250%)
  • High Rate: 4.541% (allotted at high: 16.77%)

In addition, SOMA purchased $2.32 billion 30-year bond.

Total for the week: $210 billion

  • Bills: $135 billion
  • Notes and bonds: $75 billion
Total for the month of August 09 so far: $373 billion
  • Bills: $298 billion(Of the total, $70 billion was for SFP for the Federal Reserve.)
  • Notes and bonds: $75 billion
Additional purchase by SOMA* for the month of August 09: $21.65 billion
  • Bills: $10.07 billion
  • Notes: $11.58 billion

*Scroll down to the bottom to see the explanation

Wednesday, August 12, 2009

Treasury Auction Result for 8/12/2009

The U.S. Treasury Department auctioned the following Treasury securities today.

10-year note (CUSIP: 912828LJ7): $23 billion, new issue ($1 billion more than the last new issue in May)

  • Primary Dealer: $11.87 billion
  • Indirect Bidder: $10.41 billion
  • Indirect Bidder Percentage: 45.3%
  • Bid to Cover Ratio: 2.49 (May new issue: 2.47)
  • Interest Rate: 3.625%
  • High Rate: 3.734% (allotted at high: 20.93%)
In addition, SOMA purchased $3.55 billion 10-year note.

Total for the week so far: $159 billion ($210 billion scheduled)
  • Bills: $99 billion
  • Notes: $60 billion
Total for the month of August 09 so far: $322 billion
  • Bills: $262 billion(Of the total, $70 billion was for SFP for the Federal Reserve.)
  • Notes: $60 billion
Additional purchase by SOMA* for the month of August 09: $19.33 billion
  • Bills: $10.07 billion
  • Notes: $9.26 billion
*Scroll down to the bottom to see the explanation

Tuesday, August 11, 2009

Treasury Auction Result for 8/11/2009

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $35 billion ($4 billion more than last week)

  • Primary Dealer: $21.06 billion
  • Indirect Bidder: $12.72 billion
  • Indirect Bidder Percentage: 36.3%
  • Bid to Cover Ratio: 3.41
  • Investment Rate: 0.152% (0.147% last week)
  • High Rate: 0.150% (allotted at high: 8.57%)

In addition, SOMA purchased $6.29 billion 4-week bill.

3-year note (CUSIP: 912828LH1): $37 billion ($2 billion more than last month; $7 billion more than January auction)

  • Primary Dealer: $13.04 billion
  • Indirect Bidder: $22.96 billion
  • Indirect Bidder Percentage: 62.1%
  • Bid to Cover Ratio: 2.89
  • Interest Rate: 1.750%
  • High Rate: 1.780% (alloted at high: 13.08%)

In addition, SOMA purchased $5.71 billion 3-year note.

Total for the week so far: $136 billion ($210 billion scheduled)

  • Bills: $99 billion
  • Notes: $37 billion

Total for the month of August 09 so far: $299 billion

  • Bills: $262 billion(Of the total, $70 billion was for SFP for the Federal Reserve.)
  • Notes: $37 billion

Additional purchase by SOMA* for the month of August 09: $15.78 billion

  • Bills: $10.07 billion
  • Notes: $5.71 billion

*Scroll down to the bottom to see the explanation

New York Fed Open Market Operation for 8/11/2009

As part of permanent Open Market Operations (OMO), the New York Fed purchased Treasury securities today.

  • Operation type: Outright Coupon Purchase
  • Total Par Amt Accepted: $2,704 million
  • Total Par Amt Submitted: $11,320 million
  • Maturity/Call Date Range: 08/15/2026 - 05/15/2039
The purchase included:
  • 912810QB7: 29-year 10-month bond $495 million, auctioned on 7/9/2009, bringing the Fed's total purchase of this particular bond to $681 million.

Monday, August 10, 2009

Treasury Auction Schedule for Week of 8/10/2009

(Updated 8/10/09 with 4-week bill (Tue) and 303-day CMB (Thurs) auctions)

The U.S. Treasury Department will auction the following Treasury securities this week.

Monday, August 10, 2009

  • 13-week bill: $33 billion ($2 billion more than last week)
  • 26-week bill: $31 billion
Tuesday, August 11, 2009
  • 4-week bill: $35 billion ($4 billion more than last week)
  • 3-year note (CUSIP: 912828LH1): $37 billion ($2 billion more than last month; $7 billion more than January auction)
Wednesday, August 12, 2009
  • 10-year note (912828LJ7): $23 billion, new issue ($1 billion more than last new issue in May)
Thursday, August 13, 2009
  • 303-day Cash Management Bill (CMB*): $36 billion
  • 30-year bond (912810QC5): $15 billion, new issue ($1 billion more than last new issue in May)

Total for the week: $210 billion

  • Bills: $135 billion
  • Notes and bonds: $75 billion


*Scroll down to the bottom to see the definition.

Treasury Auction Result for 8/10/2009

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $33 billion ($2 billion more than last week)

  • Primary Dealer: $20.67 billion
  • Indirect Bidder: $8.85 billion
  • Indirect Bidder Percentage: 26.8%
  • Bid to Cover Ratio: 3.55
  • Investment Rate: 0.188%
26-week bill: $31 billion
  • Primary Dealer: $14.05 billion
  • Indirect Bidder: $13.80 billion
  • Indirect Bidder Percentage: 44.5%
  • Bid to Cover Ratio: 3.49
  • Investment Rate: 0.289%

Total for the week so far: $64 billion

  • Bills: $64 billion

Total for the month of August 09 so far: $227 billion

  • Bills: $227 billion(Of the total, $70 billion was for SFP for the Federal Reserve.)

Additional purchase by SOMA* for the month of August 09: $3.78 billion

  • Bills: $3.78 billion

*Scroll down to the bottom to see the explanation

New York Fed Open Market Operation for 8/10/2009

As part of the permanent Open Market Operation (OMO), the New York Fed purchased Treasury securities today.

  • Operation type: Outright Coupon Purchase
  • Total Par Amt Accepted: $6,594 million
  • Total Par Amt Submitted: $22,002 million
  • Maturity/Call Date Range: 05/15/2012 - 11/30/2013

The purchase included:

  • 912828KP4: 3-year note auctioned on 5/5/2009, $1,259 million
  • 912828KX7: 3-year note auctioned on 6/9/2009, $920 million
  • 912828LB4: 3-year note auctioned on 7/7/2009, $4,054 million
  • 912828JQ4: 5-year note auctioned on 10/30/2008, $133 million

Terminology
SOMA System Open Market Account at the Federal Reserve New York Bank
Primary Dealer A bank or securities broker-dealer that may trade directly with the Federal Reserve System. Primary Dealers are required to bid at Treasury auctions. Current list of Primary Dealers is available at New york Fed.
Indirect Bidder Supposed to be the foreign investors, both foreign central banks and foreign private investors
Bid to Cover ratio The number of bids received divided by the number of bids accepted. The higher the ratio, the higher the demand.
Reopening The U.S. Treasury issues additional amounts of a previously issued security. The reopened security has the same maturity date and coupon interest rate as the original security, but with a different issue date and usually a different purchase price.
Cash Management Bill (CMB) A short-term security sold by the U.S. Department of the Treasury. The maturity on a CMB can range from a few days to six months. The money raised through these issues is used by the Treasury to meet any temporary shortfalls. CMBs tend to pay higher yields than bills with fixed maturities, but their shorter maturities lead to lower overall interest expense.
Supplementary Financing Program (SFP) A program initiated by the U.S. Treasury Department at the request of the Federal Reserve in September 17, 2008. The cash raised from the auction will be used in the various Federal Reserve initiatives to support the financial markets and manage its balance sheet.

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