NY Fed operational purchase * Tsy 0-2.25Y,......>

FED: NY Fed operational purchase

* Tsy 0-2.25Y, $6.500B accepted of $34.365B submitted

NY Fed update for next week's purchases should be around 1400ET. Additional

dealer estimates on Fed purchases: 

* Bank of America sees "Bills unlikely to materially cheapen further vs OIS due

to TGA drop our supply cuts. Fed likely to cut UST buying pace to $4B/ day due

to limited operation takedown."

* Goldman expects the "FOMC to transition to a traditional asset purchase

program, settling on a steady pace of roughly $80-120bn of UST and $25-35bn of

MBS purchases per month."