A bit of not “QE”

The NY fed helping the bid in stocks with a bit of Not QE, QE by buying $1.4B in securities the brekadown below from IFR:

*The NY Fed bought $1.401 bn coupons from Feb 2027 to November 2039. The dominant flow was a purchase of $1.089 bn in an May 2029 paper- 9.5 year paper which was 77% of the operation”

Spoos trying to trade above Unchanged levels but struggling a bit, Nasdaq +20 handles ,Crude oil below Fridays pit highs and struggling to not trade in the red,Gold also trading well off session highs but still in the green by some $14 . bonds never well bid trading lower by a few ticks and Bunds little changed as iran worries fade a bit as no new threatening headlines or tweets appear so far today. palladium trading around $2000 in the spot market higher by 1.9% today as the new year brings the Same old rally in the metal.

A few comments from the Head of NATO have little impact on the trade and president trump has tweeted very little today,Markit Economics final look at Services PMI better then expected which is helping with the move higher in Stocks.

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