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321 sats \ 1 reply \ @optimism OP 11h \ parent \ on: Office CMBS Delinquency Rate Spikes to Record 11.1% in June (Wolf Street) econ
It's a bit obscure and I can't tell for sure if those MBS' held are only FNMA/FMAC/GNMA, but looking at little more detailed data from NYFed information, i see only F/GNMA in there, so that would mean it's only residential securities from HUD.
Apparently, there's been a FOMC policy since May 2024 that:
So that explains the way that graph moves: it's simply capped at 35B a month. But that also means that these aren't MTM in any way, and the value of these MSBs are as fictional as the ones from 2008? Ugh?
Okay so I found more details here and I learned 3 things:
- The holdings are indeed all F/GNMA
- The MSBs get revalued every week
Then I downloaded a CSV for MSBs with the form at the bottom of that page with 6/18 and 6/25 data... and these seem to have lost value for...
17,638,065,700.96 = 17B
in a week.Now what I don't know yet is whether this is revaluation or partial sale. That's something for later
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