Fed POMO

[jm99]

Does anyonre know where i can get historic dates of all fed POMO days?? tia

 

[jm99]

edit prior to 2005

 

[Martinghoul]

Erm, do you know what a Fed POMO is? There were no Fed POMOs before 2009, since the Fed never engaged in outright purchases of securities in the secondary mkt before the 2008 crisis.

 

[jm99]

errrm lol, well thats what i though, but according to http://www.newyorkfed.org/markets/pomo/display/index.cfm there were over 50 operations prior to 2009. see historical data on right

 

[Martinghoul]

Yeah, these are not POMOs. These are operations known as "passes" (could be either a "coupon pass" or a "TIPS pass"). They were done occasionally by the NY Fed to routinely adjust the composition of the SOMA portfolio and are very different to the modern-day POMOs that are done within the context of the LSAP (Large-scale Asset purchase Program). Specifically, the passes have always been quite small and infrequent, due to their somewhat cosmetic nature.

 

[jm99]

makes sense.

so with the historic dates on the link, it is safe to assume all "pomo" dates post march 18th 2009 are in the lsap context?? or are there "passes" in there also

 

[Martinghoul]

makes sense.
so with the historic dates on the link, it is safe to assume all "pomo" dates post march 18th 2009 are in the lsap context?? or are there "passes" in there also

Nah, I think they stopped doing passes, as there's really no point rebalancing a massive portfolio like theirs. The SOMA account owns pretty much whatever amount of whatever bond they could possibly desire.