Foreign Central Banks Net Sellers Of US Agency Debt

"The single largest one-week sale [US agency] debt on record" is a fairly significant milestone, and it will be of interest to see to what extent this unpleasant "trend" develops...or if somebody can paper over the fissure before the dam bursts.

Despite the importance of the issue, it seems to begetting scant coverage in the MSM (wonder why? ).

Last week I reported on the fact that the Federal Reserve data concerning the Custodial Accounts had revealed a huge sale of US Agency debt of some $57 billion,. The amount was so colossal, that I wondered if it might have been a clerical error and would be corrected on the next week’s report. Well, guess what? It wasn’t an error.

While this week’s report did not show any such stunning developments, it did reveal that once again, as is becoming a trend now, Foreign Central Banks were net sellers of US Agency debt. This week they sold a mere $3.5 billion of it but they did sell and that is what is important to note.

More at source:
jsmineset.com...

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