Funny: Nobody Just Sold $100 Billion Of US Treasuries

In the week through Wednesday, March 12, the amount of U.S. Treasury securities held in custody for foreign official and international accounts (i.e., central banks) at the Federal Reserve dropped by a staggering $104.5 billion, marking what was far and away the biggest weekly drop on record.

Funny: Nobody Just Sold $100 Billion Of US Treasuries Fed-custody-holdings

Funny: Nobody Just Sold $100 Billion Of US Treasuries Fed-custody-holdings

These custody holdings have fallen almost every week since mid-December, as weakness in emerging-market (EM) currencies has caused EM central banks to raise dollars by liquidating their U.S. Treasury holdings, and then turn around and sell those dollars on the open market in order to prop up their own currencies.

This has prompted some speculation that central banks selling Treasuries were behind the record drop in Fed custody holdings. However, such activity doesn't come close to explaining what happened in the last week.

For example, the Central Bank of Russia — which has been in the spotlight due to escalating military tensions in Ukraine and has thus seriously underperformed against other EMs as of late — only bought 154.97 billion rubles in the week ended March 12.

At an average exchange rate of 36.35 rubles to the dollar over that time period, the CBR's intervention amounted to about $4.3 billion — leaving more than $100 billion of the drop in Fed custody holdings unaccounted for.

More: http://www.sfgate.com/technology/businessinsider/article/Nobody-Just-Sold-100-Billion-Of-US-Treasuries-5318866.php

Nobody? That must have been Nemo.

LOL, wtf???

Nemo is a Latin word meaning "no man" or "no one".

http://en.wikipedia.org/wiki/Nemo

Muttley

Oooohhhh.....

That's deep...

20,000 Leagues Under the Sea...

Funny: Nobody Just Sold $100 Billion Of US Treasuries 00978353

Funny: Nobody Just Sold $100 Billion Of US Treasuries

Funny: Nobody Just Sold $100 Billion Of US Treasuries

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