POMO continues $2.75 - $3.50B today

http://www.newyorkfe...n_schedule.html

July 26, 2011 “Outright Treasury Coupon Purchase” of $2.75 - $3.50B

"The Social Security trust fund holds some 2.4 trillion dollars in US Treasury securities for the purpose of paying off Social Security claims. Now in general that doesn’t really help our budget situation but it does mean that the debt ceiling is not a problem for Social Security."
"So basically the Treasury securities can be turned in for cash and the Treasury will just re-sell them to make up that money."

But it does seem like it could put a bit of pressure on Treasuries, IF...

Edited by Rogerdodger, 26 July 2011 - 09:13 AM.

U.S. could avoid default a few days longer, new reports say
Analysts have said that daily tax receipts have been higher than anticipated and that the Treasury has quite a bit of cash on hand.As of Friday, according to the Treasury, the government had $85 billion in cash.

UBS estimates that the government will run out of money to pay all bills starting no sooner than Aug. 8. Barclays suggests Aug. 10. Wells Fargo Securities said the government might have to cut back on some spending but could pay most of its bill through August.

LIES, DAMNED LIES AND NEWS REPORTS...

Edited by Rogerdodger, 26 July 2011 - 09:20 AM.

All that POMO aint gonna do jack spit if the country does default or loses AAA QE3 isnt gonna do much either