Comments from the NY Fed President

Comments from the NY Fed President
  • Says he doesn't view MBS buys as more focused on housing
  • US home prices have increased very strongly and equity prices are at high levels but he is not worried about financial system risks
  • Price spikes in certain categories are related to the reopening but it will be important to watch the data carefully
  • Highlights advantages of standing repo facility

There's nothing that's going to move the market here but he's coming out clearly against tapering MBS before Treasuries.