Don't Look Now! "Dovish" Fed Drained $42 Billion From The Bond Pits In May

Total assets fell by $42 billion in May, as of the balance sheet for the week ended June 5, released this afternoon. This was the balance-sheet week that included May 31, the date when Treasuries rolled off. This drop reduced the assets to $3,848 billion, the lowest since October 2013. Since the beginning of the “balance sheet normalization” process, the Fed has shed $613 billion. Since peak-QE in January 2015, the Fed has shed $669 billion:

 

 

 

 

https://wolfstreet.com/2019/06/06/fed-balance-sheet-drops-by-42-billion-in-may-sheds-mbs-at-fastest-pace-starts-the-reverse-of-operation-twist/

 

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