http://www.treasury.gov/resource-cen...s_Feb_2013.pdf
We urge readers to read the bolded section below, which comes straight from this quariter's Treasury Borrowing Advisory Committee (i.e., Primary Dealers) presentation to the Treasury Department, and explain, with a straight face, just how the Fed will ever be able to not only stop monetizing debt and injecting $85 billion of flow into the stock market, but actually sell any holdings.
Federal Reserve Holdings (1 of 2)
As of Dec 26, 2012 the Federal Reserve System Open Market Account (SOMA) held approximately $300 billion in 21+ year US Treasury debt
SOMA holds 41% of the 30y Treasury bonds issued since 2009
In Feb 2013, Fed will buy 75% of new 30y Treasury supply
Twist and QE operations have significantly lengthened the WAM of the Fed’s SOMA portfolio
The Fed currently owns 29% of all marketable 10yr Equivalents outstanding
The Federal Reserve Is Systematically Destroying The U.S. Bond Market
JGB & Where Is The Stock Market If You Price It In Gold?
China: Another Month, No Buying Interest In U.S. Treasuries
The US Bond Market (QE + QE + ZIRP + OPERATION TWIST + QE + ZIRP + OPERATION TWIST) When The FED Raises Interest Rates...
Ben Bernanke, Then And Now
Monetary Policy Alternatives At The Zero Bound: An Empirical Assessment (The Federal Reserve Playbook)
Federal Reserve Bank of New York: Staff Report No. 574 October 2012 - "The Forward Guidance Puzzle" Dynamic Stochastic General Equilibrium Model Predicts Explosive Inflation - The Outcome Is Hyperinflation
We urge readers to read the bolded section below, which comes straight from this quariter's Treasury Borrowing Advisory Committee (i.e., Primary Dealers) presentation to the Treasury Department, and explain, with a straight face, just how the Fed will ever be able to not only stop monetizing debt and injecting $85 billion of flow into the stock market, but actually sell any holdings.
Federal Reserve Holdings (1 of 2)
As of Dec 26, 2012 the Federal Reserve System Open Market Account (SOMA) held approximately $300 billion in 21+ year US Treasury debt
SOMA holds 41% of the 30y Treasury bonds issued since 2009
In Feb 2013, Fed will buy 75% of new 30y Treasury supply
Twist and QE operations have significantly lengthened the WAM of the Fed’s SOMA portfolio
The Fed currently owns 29% of all marketable 10yr Equivalents outstanding
The Federal Reserve Is Systematically Destroying The U.S. Bond Market
JGB & Where Is The Stock Market If You Price It In Gold?
China: Another Month, No Buying Interest In U.S. Treasuries
The US Bond Market (QE + QE + ZIRP + OPERATION TWIST + QE + ZIRP + OPERATION TWIST) When The FED Raises Interest Rates...
Ben Bernanke, Then And Now
Monetary Policy Alternatives At The Zero Bound: An Empirical Assessment (The Federal Reserve Playbook)
Federal Reserve Bank of New York: Staff Report No. 574 October 2012 - "The Forward Guidance Puzzle" Dynamic Stochastic General Equilibrium Model Predicts Explosive Inflation - The Outcome Is Hyperinflation
