The Fed resumed QT the week ending May 31st having modestly reduced its Treasury and Government Agency security holdings (modest in comparison to the Fed’s former QE buying program).

• Treasuries: The Fed’s Treasury security holdings decreased by $31.1 billion for the week-ended May 31st and decreased by $59.9 billion on a rolling 4-week basis.
• Agencies: The Fed’s Government Agency security holdings decreased by $12.2 billion over the same period and decreased by $17.5 billion on a rolling 4-week basis.
• The Fed’s balance sheet holdings: https://www.newyorkfed.org/markets/soma-holdings
• Excel file: Our Excel file detailing the Fed’s holdings of Treasury and Agency securities: HERE.

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