The Bubblemeister panicking?

[Enrique Diaz-Alvarez]

Enrique Diaz-Alvarez wrote:
> 
> 
> If that's the case, then ten coupon passes, anywhere from 1/2 to nearly
> 2 billion $ apiece, in the span of less tan a month, with no sales of
> T-bills that I am aware of, _seems_ pretty significant, does it not?
> 

Sorry about going over limit. This site

http://www.briefing.com/intro/tour/bonds/glossary/ball1.htm

has a full description of the Fed open market operations. It says that
coupon passes occur about eight times a year. If so, ten coupon passes
in less than a month is a very significant deviation from standard
practice, and absent any other explanation does seem to give off a whiff
of panic. Or am I missing something?

-- 
Enrique Diaz-Alvarez            Office # (607) 255 5034	
Electrical Engineering          Home #   (607) 272 4808
112 Phillips Hall               Fax #    (607) 255 4565
Cornell University              mailto:enrique at ee.cornell.edu
Ithaca, NY 14853                http://peta.ee.cornell.edu/~enrique