The party boys call the Kremlin
And the Chinese know
They walk the line like Egyptians
--Bangles
Last year, the Fed bought more Treasuries than all foreigners combined. The below graph shows top holders of Treasuries and their holdings in 2012 vs 2013.
Former league leaders China and Japan are now distant #2 and #3 to the Fed. After them, all other buyers seem tiny.
Could the US sovereign debt issuance pyramid be more obvious?
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Calling it a "very unusual issue," former Fed Chairman Alan Greenspan told CNBC on Friday he's worried about the spread between 30-year and 5-year Treasury notes.
"That is the measure of the degree of long-term, very long-term, lack of confidence. And that spread is at the widest level in American history," Greenspan said in a "Squawk Box" interview.
~Matthew Belvedere, CNBC, 2/7/14
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