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:
Added later:
** More Causal Confusion: The FOMC Decision and the Market Reaction – EconoMonitor
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: Banks – The Curious Capitalist / TIME
While lower interest rates are good, it does not matter, as banks are not lending.
Twist? We want more – Buttonwood’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 Version – EconoMonitor
Twist and Yawn – EconoMonitor
The Fed seemingly disappoints everyone – Free exchange / The Economist
The not-so-fearless Fed? – alphaville / FT
The Fed Disappointed… The Great Collapse Is Here – Gains Pains & Capital