This week the Fed’s own MBS figure shrank by a rather startling $17.044 billion, while treasuries grew quite a bit and agencies sagged a couple of $B.
This week Doom derived the NY Fed data set from a date-limited session with the Data Download Program:
Since the data redefinition the total US obligations number also includes a $10s of billions item called “other”, so that the changes for treasuries plus agencies doesn’t necessarily quite reach the total change.
Treasuries grew by a substantial $11.453 billion.
Agencies retreated $2.383 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 of US obligations rose $9.364 billion
Twist’s ratio graphs shifted down.
The Setser numbers were fairly flat.
Notes and References
: “Foreign central banks’ US debt holdings rise – Fed”, Reuters, November 29, 2012.