from Follow the Money

Bonus graph

August 4, 2009

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Blog posts represent the views of CFR fellows and staff and not those of CFR, which takes no institutional positions.

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A quick chart showing how my estimates (from work I have done with Arpana Pandey of the CFR) for official holdings of Treasuries and Agencies compares with the FRBNY custodial holdings and the data that the US reports on the TIC website.

frbny-custodial-data-july-09-3

My estimates match those of the TIC in June of every year -- when the data is revised. That is by design. All I am doing is using data on flows through the UK and Hong Kong to smooth out the revisions over the course of the year, and thus to avoid the sudden jumps in the official data.

frbny-custodial-data-july-09-41

More on:

Monetary Policy

United States

Budget, Debt, and Deficits

Trade

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