POMO Pumps and FOMC Meeting

The relentless POMO pumping, a la QE2, resulting in relentless market buoyancy between 10 AM and 11 AM EST each session, takes a rare one day breather.  No POMO pump on Tuesday morning, 3/15/11, since the FOMC conducts a rate meeting.  Since the QE2 announcement, these Fed days are typically flat or up. The POMO pumps return Wednesday morning and truck along each morning thereafter.