Your friendly neighbourhood Prophets of Doom are slightly surprised, but most pleased to wish our readers a Happy New Year. This week the Fed’s own MBS figure continued to go nowhere, nudging up just $0.133 billion. In fact over the last three weeks the number has been remarkably flat, down a bit more than $2B, which also approximates the aggregate growth this week in the other numbers we’re following.
This week’s Reuters report1 was, as usual, based on the weekly update from the NY Fed’s H.4.1 table site.2 Nice image in the Reuters article of a pair of phone booths for aliens outside Ben’s office (OK, more likely moderately aesthetic post-9/11 security barriers).
This week Doom derived the NY Fed data set from a date-limited session with the Data Download Program (updated from last time because of the year change):
Treasuries continued to rise, but by a much reduced $2.052 billion.
Agencies swung to a tiny $0.187 gain, balanced by an even smaller $0.066 billion loss in the Other number.
The net of US obligations nudged up $2.172 billion, less than half of last week’s result.
Twist’s ratio graphs slipped down once again.
The Setser agency number was flat and the treasury number continued higher under the influence of continued losses on the anniversary dates.
Notes and References
: “Foreign central banks’ U.S. debt holdings rise: Fed”, by Daniel Bases, Reuters, January 4, 2013.