So, what does The Fed decide to do?

Simple - increase its daily QE buying of bonds by 66%, buying a record $75 billion of US Treasury bonds each of today and tomorrow.

The bank had initially planned to purchase $50b of Treasuries on those days.

The buying is spread across 7 operations as listed below:

9:40 – 10:00 am: Treasury Coupons 7 to 20 year sector, for around $6 billion

10:30 – 10:50 am: Treasury Coupons 4.5 to 7 year sector, for around $11 billion

11:20 – 11:40 am: Treasury Coupons 2.25 to 4.5 year sector, for around $17 billion

12:10 – 12:30 pm: Treasury Coupons 0 to 2.25 year sector, for around $25 billion

1:00 – 1:20 pm: Treasury Coupons 20 to 30 year sector, for around $9 billion

1:50 – 2:10 pm: TIPS 1 to 7.5 year sector (Thursday)/TIPS 7.5 to 30 year sector (Friday), for around $7 billion

Just for some context, that is more than one month of 'old QE' in one day!!