Dear Friends,

The ominous trend continues in the US Agency Debt market as Foreign Central Banks continue to divest themselves of it at an alarming pace. Holdings are now at a 39 month low. The question can be raised – who is buying all of this debt that is being unloaded on the market?

Click image to enlarge today’s Agency Debt chart in PDF format with commentary from Trader Dan Norcini

Click image to enlarge today’s Custodial Holdings of Treasuries for Foreign Central Banks chart in PDF format with commentary from Trader Dan Norcini