Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
Few charts capture as effectively the shift in foreign demand for US Treasurys over the past 4 years, or under the Obama administration, as the following two, courtesy of the latest TBAC Q4 refunding presentation. They are quite self-explanatory.
Total foreign demand: Bills and Coupons.
And foreign demand for just Coupon paper.
So who is picking up the slack?
And what is another name for Primary Dealers?…think POMO…. Why, the Fed of course.
