The Only Two Charts That Matter For The Fed

Here are the only two charts that matter:

First, the Fed now owns a third or 32.47% of all 10 Year equivalents, up 32.22% from the prior week, and rising at a pace of 0.3% per week.


Second, the Fed is now monetizing a record 70% of all net US 10 Year equivalent issuance.


That is all.

Source: Stone McCarthy and RBS


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