wtf another sandwich break like yesterday?
Allowing the FRB's purchases to be placed in the "hold to maturity" bucket allows the banks or primary dealers to not have those 'assets' counted when the FRB does it's annual fake stress test.
It's the sole reason they have passed it with a few rare exceptions.
read more here about the stress test
https://www.federalreserve.gov/supervisionreg
This going to drift around because the FOMC cannot have a down day. They never do during these meetings.
Still would look to short this however sometimes doing nothing is something. Long game and will wait until tomorrow. Probably another gap up Weds morning. Then you start backing up the truck into that leading up to the pressor after rate decision.