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TIC Update: In September Foreign Central Banks Dumped The Biggest Amount Of US Agencies On Record
While we await for the Treasury Department to actually update its complete September TIC LT flow data tables, here is some of the data we can compile with what has been released so far. China is now once again solidly ahead of the Fed in terms of total Treasury holdings, owning $883.5 billion USTs in September, a $15 billion increase from August, of which $10 billion came from an increase in non-Bill holdings, and the balance from Short Term, which at $21 billion have risen to the highest since... April 2010. This is peanuts. The Fed will surpass this total by Thursday. The bigger surprise came from Japan, which added $28.4 billion in Treasury debt to a total of $865 billion, of which just $3.5 billion was from ST holdings. The broke UK moderated its torrid pace of gobbling up US debt and added just $10.7 billion in US paper to bring its new total to $459 billion. Notably, in September hedge funds (Carribean Banking Centers) sold $14 billion of Treasuries as they took the proceeds and invested it all in Apple to force the biggest short squeeze in history (note the number of HF adding Apple as of Sept. 30, shares which they have almost certainly disposed of since). The biggest surprise by far in today's TIC update had little to do with Treasury holdings but instead had everything to do with Agencies, the security most in peril courtesy of the massive fraud perpetuated by MERS and the robosigners. To wit: Foreign Official institutions (primary central banks) dumped a massive $31.4 billion in Agencies: a record number since the TIC data has been reported in 1978. This was offset marginally by Agency purchases by other foreigners of $23 billion, although the dump by central bankers what everyone will be focused on. This is certainly news that PIMCO and all the other RMBS investment funds did not need to see today.
More charts to be added as Tim Geithner finally decides to update the LT change table.
China holdings:
UK Holdings:
Total change in securities monthly:
And, most importantly, foreign holdings of Agency Securities. Note the plunge in Foreign Official Holdings:
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Don't worry about Bill, Ben'll give him an advanced peak at the next "big thang".
I had orginally thought that a portion, if not most, of QE2 was going to be purchases of MBS' to bail out the banks. I was wrong and the Fed annouced is was going after Treasuries. Is that about to change or is it steady as she goes for the Fed?
Chart: ES and ZB
Okay, Ben. Time to pick your poison.
http://99ercharts.blogspot.com/2010/11/es-zb_16.html
http://www.zerohedge.com/forum/99er-charts
More importantly - HAS EVERYONE BOT THEIR OUNCE OF SILVER ?
Si
ouch
Added 25 last week. I might make a larger order with some of my dry powder.
What's going on at Max Keiser site? he is losing it.. silver..jpm.. silver..does he not know it is an industrial metal tied to production? 2008 silver went from $ 20-8 $.
Yeh, and that had nothing to do with JPM...
Oh, why bother. Let's just recognize that you're a douchebag and forget this ever happened.
He IS losing it.
That voice of his cause my ears to bleed. Mute him and look at your trinkets, they are oscillating.
So far silver -14% from 29.33 to 25.13 in a week
So much for sure things
Because all markets always move in a straight line, right?
Short it partyer. Max buys the global warming scam but other than that ,his analysis is spot on.
I got a silver certificate (looks like the fiat crap you have in your purse/wallet)from a country called the United States. Wiser heads years ago knew better. Heh the USD is in rally mode. Maybe Dick Cheney was right?
Gee I just couldn't tell from the price action over the last week.
Or the last 60 days for that matter
"And, most importantly, foreign holdings of Agency Securities. Note the plunge in Foreign Official Holdings:"
What's even more surprising is why they began to buy them again after 2008?
Even MORE surprising is they dumped them in the face of Erin Burnett's reassurances of foreign investor demand.
Does this mean that the extend and pretend policy is in jeopardy? Doesn't anyone want to join Fannie and Freddie in holding their damaged goods? Oh my!
Someone is using Keiser site to dump all their silver on, don't go for it. He a shill for some speculative hedge fund probably or Ex Male Pros commodity trader.
So the guy who is "losing it" can influence the entire WW silver market?
B/c its the paper price you are talking about. Physical demand is through the roof.
We are talking the same MK that sells no silver directly?
Is that you JP Morgan? Its OK. I thank bankers are very mis-understood.
Nothing wrong with taking silver out of the hands of some dumbshit hedge fund.
Move all remaining silver to strong hands. We can end this crap a lot faster that way.
Who said Fed Front-running is only for Americans?
Chart: SPX
POMO, Ben. POMO.
http://99ercharts.blogspot.com/2010/11/spx_16.html
http://www.zerohedge.com/forum/99er-charts
Whats the chance of a green smile on the POMO market today. Not looking good. I think I will take a ride by my coin shop this afternoon.
Isn't PIMCO calling a bond bubble- why would they be surprised?
It's a mass foreign stampede for the exits!
It seems we've finally realized that the Fed can't prop up paper asset values after all! Can you say, "CRASH"?
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