The Fed’s own holdings of MBS shrank by $12.759 billion and cenbanks’ holdings of obligations (mostly treasuries) rose nicely, but didn’t quite offset the Fed’s own sale.
This (well, last) week’s Reuters report1 was, as usual, based on the weekly update from the NY Fed’s H.4.1 table site.2 Here is Doom’s updated CSV version3 of the agencies and treasuries foreign central bank holdings data set.
Treasuries continued a merely robust upward trend.
At $9.714 bilion the Treasury Debt holdings grew at roughtly 3/4th last week’s rate.
Agencies rebounded after the previous week’s selloff, but to the tune of only $0.690 billion.
*Agen-FM: The dotted line is the foreign central banks’ Agency Debt holdings reduced by the level of the Fed’s own MBS holdings. Since the FRBNY itself is a lightly audited peculiar amalgam of foreign & domestic, central and private bank I think it might be useful to consider the hypothesis that for a while starting in January 2009 the Fed’s MBS holdings were being quietly deemed to be “foreign.” That is, for the first half of ’09 the dotted line seems more sensible than the red one.
The net growth in US obligations held rose $10.403 billion, and that actually beat out the previous week’s.