Like every Thursdays afternoon, The Fed of New York announced their balance sheet holdings. Unlike the anticipated unwind that Janet Yellen had been promising, The Fed actually INCREASED their holdings of US Treasury Notes and Bonds and increased their holdings of Agency MBS.
Did The Fed unwind anything? Yes. They dumped $2.63 BILLION of Treasury Inflation-Protected Securities (TIPS).
Did The Fed just surrender on the inflation front? The Battle of The SOMH?
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