Benny and the Fed delivered a 600 Billion dollar in new monetization program today, not including rollover purchasing which should take the total purchasing for 2011 a bit closer to a trillion.
The program will be for 8 months, rather than the expected 6, and will not include MBS or the 30 year Bond, which was particularly hard on Big Daddy today which you can see from the second chart below of the 30 year bond.
As a side note, coming into today's FOMC meeting, Bloomberg says that Goldman Sachs was advising traders to 'buy the long end of the curve.' Surprise, surprise, surprise. LOL.
