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The Federal Reserve Bank of New York added $52.6 billion in short-term liquidity to the financial system Friday to help money markets get through the weekend.

The Fed added the money in a repurchase agreement operation, or repos, that took in $10.9 billion in Treasurys and $40.8 billion in mortgages. Demand from eligible banks, known as primary dealers, was lower than the $120 billion the Fed had on offer. But unusually, the dealers submitted more mortgage bonds to the Fed than Treasurys.

 

Wall Street journal

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15 hours ago, Huaco Kid said:

We could buy cigarettes, too.

Mom used to pull up in front of the drugstore,  so she didn't have to get out, give me money,  and I'd go in and buy them.

Early on in grade school I would buy Cigarettes for the elderly tenants that didn't want to walk to the corner store for them.  No one blinked an eye.

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The Treasury Department is issuing a 20-year bond for the first time in 34 years to help pay for the ballooning $1 trillion dollar budget deficit.

The Treasury announced the new issue Thursday, and strategists said it could start trading as early as May. Treasury will announce more details Feb. 5, but strategists say the new bond should see good demand though it may trade at a discount initially as the market adjusts to it.

 

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New: President Trump told his health secretary yesterday "I should never have done that f***ing vaping thing" during an impromptu call on speakerphone in an Oval Office meeting. w @caitlinnowens https://www.axios.com/trump-hhs-azar-vaping-policy-14475d0f-07db-4e33-ac25-b512562ab419.html?utm_source=twitter&utm_medium=twsocialshare&utm_campaign=organic 
 

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Now the Bernie voters are threatening to sit out the election if Democrats cheat again.
The Washington Examiner reported:

Bernie Sanders supporters are warning that a lack of enthusiasm for Joe Biden could bring about the same result that nominating another establishment Democrat did four years ago: electing Donald Trump.

Sanders backers fret the socialist Vermont senator, 78, is being consistently ignored and underestimated by Beltway insiders and a Washington-based press corps — the same bunch, in their view, who failed to predict Trump’s 2016 White House win and were sure Hillary Clinton, who beat Sanders for the Democratic nomination, would easily prevail.

They’re particularly steamed Sanders, a socialist who has been in Congress since 1991, isn’t getting his due though he’s proven to have staying power in public opinion and fundraising, even after suffering a heart attack last October. As of last week, he leads a tight four-horse race in Iowa ahead of the first-in-the-nation caucuses on Feb. 3, raising a record figure of $34.5 million in the final financial quarter of 2019 for a total of $96 million.

Nominating a career center-left candidate such as Biden, the former vice president and 36-year Delaware senator, would dampen enthusiasm by the liberal populist grassroots, Sanders backers contend.

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