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Fed Extends TWIST Through End Of 2012, Prepared To Take Further Action, Market Unhappy
Zerohedge ^ | 6-20-12 | Tyler Durden

Posted on 06/20/2012 9:45:55 AM PDT by tcrlaf

As always, Goldman Corzined anyone who listened to its call that an epic QE is coming. Fed did the worst possible outcome for risk- merely extended Twist, just as the credit market predicted it would 3 weeks ago:

FED SAYS IT IS PREPARED TO TAKE FURTHER ACTION `AS APPROPRIATE FED TWIST EXTENSION TO SWAP $267 BLN OF TREASURIES BY END 2012 FED TO SELL OR REDEEM `EQUAL AMOUNT' DEBT DUE 3 YEARS OR LESS FED TO BUY TREASURIES DUE IN 6 TO 30 YEARS AT `CURRENT PACE' FED SAYS EMPLOYMENT GROWTH `HAS SLOWED' FED SAYS INFLATION HAS DECLINED, REFLECTING OIL FED REITERATES ECONOMY `EXPANDING MODERATELY' LACKER DISSENTS FROM FOMC DECISION

(Excerpt) Read more at zerohedge.com ...


TOPICS:
KEYWORDS: fed; markets; obama; twist
The markets must be propped up, at least until Election Day, NO MATTER HOW MANY HUNDREDS OF BILLIONS IT COSTS THE TAXPAYERS! COMRADE GREAT CHAIRMAN OBAMA's relection must not be endangered by this, no matter the cost.

This is going to get lost anongst today's Fast&Furious news, but it's going to cost YOU, big-time.

1 posted on 06/20/2012 9:46:05 AM PDT by tcrlaf
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To: tcrlaf

Gas is also down for Herr Hussein’s election chances. Was $3.11 here yesterday.


2 posted on 06/20/2012 9:55:22 AM PDT by bgill
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To: bgill

They don’t seem to be employing that tactic here where gas is still 3.999


3 posted on 06/20/2012 9:58:24 AM PDT by steve86 (Acerbic by nature not nurture TM)
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To: tcrlaf

Let’s twist again like we did last summer!

http://confoundedinterest.wordpress.com/2012/06/20/will-bernanke-twist-again-like-he-did-last-fall-the-evidence/


4 posted on 06/20/2012 10:45:21 AM PDT by whitedog57
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To: steve86
"They don’t seem to be employing that tactic here where gas is still 3.999"

I'm in a tourist area in the West, too. Same price here. The local oil companies starved to keep gas prices down two summers, now, and traffic continues to decrease radically.

The multitudes dependent on government incomes/debt/revenues aren't showing up much. Oh, well. The Rockies south of Wyoming are unprecedentedly crackling dry and hot with an unusually extreme risk of wildfires. Extreme fire bans everywhere (no fires or sparks allowed). I'm afraid that coming dry (no rain) lightening storms and idiots will ignite more really bad ones.


5 posted on 06/20/2012 12:03:23 PM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
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To: bgill

The Fed creating more debt for government employee pay and inflating the dollar will pressure oil prices upward. The saturation of the media about Europe helped to prop the dollar a little, but the dollar will fall much in the long run, especially after our own bond collapse.


6 posted on 06/20/2012 12:07:17 PM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
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