Today's Quantitative Easing Report

In today's Permanent Open Market Operation (POMO), the NY Federal Reserve bought $3.89 billion worth of Treasuries, which mature between 2014 and 2016. This is the highest daily level of quantitative easing on record, and caused a rise in long dated treasury yields, with the 30 year treasury going to 3.82%, a rise of nearly 2 basis points.

Here is a link to today's results.

The broader stock market began to turn around as soon as the auction results were announced.

Coincidence or something more? You be the judge.

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