That plume of abrasive particles wafting over the world’s financial services industry comes from a largish bonfire consuming depositor faith. Who needs that stuff? Doom isn’t sure but the supply ain’t infinite. And where are the savings of (south) Cyprus now? In a word: Lent.
The Fed’s own MBS holdings popped another $24.638 billion while treasuries sagged a bit more but agencies more than picked up the slack. All in all a positive week.
This week Doom derived the NY Fed data set from a date-limited session with the Data Download Program:
Regret I was late getting the numbers to twist, my bad 🙁 Charts should be up in due course …
Treasuries from Sep ’08 chart
Treasures from Feb ’00 chart
Treasuries BAR GRAPH
Treasuries continued south, but by just $0.589 billion, which was only about 1/6th of last week’s minor fall.
Agencies BAR GRAPH
Agencies mini-surged up $4.939 billion, returning to about where they were four weeks ago.
Weekly Treasury Debt and Agency Debt chart here
The net of US obligations swung to $3.582 growth, reversing last week’s loss with a bit to spare.
Twist’s ratio graphs ticked up again.
Graph “Ratio GSE to Treasury” (last 52 weeks) goes here
Graph “Ratio GSE to Treasury” (from 2000) goes here
The Setser numbers converged quite strongly.
New Graph 52-week changes here.
Graph 52-week changes here.
Notes and References