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by gniv 2495 days ago
(Replying to myself)

I found this graphic: https://fingfx.thomsonreuters.com/gfx/mkt/12/4001/3971/U.S.%...

linked from this article: https://wkzo.com/news/articles/2019/jul/30/us-seen-ramping-u...

Funny thing is, given the recent trend in treasury yields, these banks are making good money on their holdings.

1 comments

You'll notice in this graphic the sharp jump in holdings that corresponds to around October. This is when - for foreign buyers - the yield curve really inverted for practical purposes, leading to primary dealers filling up their books, which I detailed a bit in my initial post.