|11:00||Fed outright Treasury coupon purchase|
$1.825 billion purchase covering 0.75- to 1.5-year maturities
|11:30||3- and 6-month bill auction||$45 billion and $42 billion respectively|
The economic data calendar will be light this week. No major indicators are due out today.
This week’s MMO features our quarterly chartbook of foreign bank holdings of reserve balances. Aggregate FBO holdings in our sample were down $54 billion between the end of March and the end of June, which is close to the average quarterly decline over the preceding year. The decline in foreign holdings may accelerate in Q3.