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Thursday, September 22

Super Fed Aftermath


Fed twisted, as was expected and markets tumbled. Here are the comments from the blogs and the banks:

Statement Regarding Maturity Extension Program and Agency Security Reinvestments – N.Y. FED

FOMC meeting flash: Bernanke does the twist – tradingfloor

USD in demand after the Fed implements full-blown Operation Twist – tradingfloor

More Causal Confusion: The FOMC Decision and the Market Reaction – A Dash of Insight


Operation Twist? That’s Operation Illusion – Also Sprach Analyst

WH and Fed sleeping together – Bruce Krasting

Will there be another Refinance Boom? – Calculated Risk

Treasuries Update: Let the Twist Begin – dshort.com

FOMC Decides to Implement Operation Twist – Economist’s View

Operation Twist: The Consequences – The Daily Capitalist                                         

Wall Street Rejects Operation Twist – The Daily Capitalist

The Twist – The Street Light

Poll: Bernanke Twists, Market Tumbles! – The Short Side of Long

The Fed’s four announcements – WP

Take that, Congress – Free exchange / The Economist

A few more analyst reactions to the FOMC statement – alphaville / FT

Obamernanke and the Stock Market – Asia Times

Why “Operation Twist” Is Especially Stupid: There’s No Lack of Short-term Financing – Asia Times

The Fed Twists in the Breeze – naked capitalism

Redacted Version of the September 2011 FOMC Statement – The Aleph Blog

Thoughts on the Fed’s Twist – The Big Picture

Fed still hoping for a different result – The Big Picture

FOMC statement and analysis – Pragmatic Capitalism

Operation Twist: Maybe a Bank Subsidy – MarketBeat / WSJ

Operation Twist: A Solution in Search of a Problem – MarketBeat / WSJ

Goldman's Take..."A Bold Twist" – ZH

Why Goldman Is Surprised By The Market's Reaction To The Twist, And What's Next For The Fed? – ZH

Wall Street Pundits' Kneejerk Response To FOMC Statement – ZH

Added later:
** More Causal Confusion: The FOMC Decision and the Market ReactionEconoMonitor
Very good post listing plenty of reasons for what happened before, at and after.

The Fed's "Operation Twist"The Capital Spectator
Summaries of six articles on the FOMC outcome. Also see my Super Fed Aftermath.

The Twist in the Fed's Stimulus Plan: BanksThe Curious Capitalist / TIME
While lower interest rates are good, it does not matter, as banks are not lending.

Twist? We want moreButtonwood’s / The Economist
With the twist priced in by the market, gloomy statement and no hint at extra action, markets tumbled

Look Out Below, Post FOMC VersionEconoMonitor

Twist and YawnEconoMonitor

The Fed seemingly disappoints everyoneFree exchange / The Economist

The not-so-fearless Fed?alphaville / FT

The Fed Disappointed… The Great Collapse Is HereGains Pains & Capital