Foreign-owned U.S. Treasuries held by Fed fall below 2020 crash levels, liquidity alarm flashing
This is a shocking chart. It’s foreign owned U.S. Treasuries held by the Federal Reserve. Every drop has been a liquidity crisis. When foreign governments or banks need Dollars the Treasuries exit. It’s now lower than the depths of the 2020 crash. Remember: the Fed has only one “tool” in its “tool chest”: Money Printer …