NY Fed makes technical adjustments to QE; adjusts maturity ranges of asset purchases, extending WAM somewhat to align purchases with outstanding debt; reduces short-end and TIPS purchases modestly


link to new schedule

link to old schedule

Analysis details (20:27)

These adjustments had been flagged by Fed officials recently and thus come as little surprise to market participants, who have been expecting these tweaks to purchases for a few months now. Furthermore, it is worth stressing that the total purchase amount remains the same at USD 80bln of Treasuries and TIPS per month, and while the duration has been modestly extended to match Treasury issuance, this should not be misconstrued as an "operation twist" or "tapering", nor any other deviation of Fed policy 

13 May 2021 - 20:05- Important- Source: NY Fed

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