The KUIK Closing Market Report for Tuesday, January 10:
Markets were mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(32)
points
19,856
1:10 PM
S&P500
Unchanged
0.0%
percent
2,269
–
Nasdaq Composite
Up
0.4%
percent
5,552
20.00
30 Year Treasury
Unchanged
–
basis points
2.97
Annual Yield
The Federal Reserve announced today it transferred $92 billion in earnings to the U.S. Treasury during 2016. That’s down from a record $117 billion transferred in 2015, in part because the Fed had to pay more interest to banks for reserves kept at the Fed. 2016’s total was higher because of a special payment of $19.3 billion when Congress mandated that the Fed’s capital surplus not exceed $10 billion. The transfers are a side benefit from the Fed’s bond-buying program that has resulted in the Fed’s $4.5 trillion balance sheet.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
