taper rope-a-dope

[cheka.]

there is no taper

just a shell game to dupe the dupes

frbny's foreign franchises tasked with qe....until frbny comes back to the table

http://www.reuters.com/article/2015/04/02/cenbanks-holdings-bonds-idUSL2N0WZ23M20150402

(Reuters) - Foreign central banks boosted their U.S. Treasuries ownership in the latest week by a record $62.9 billion, reversing a decline in previous weeks in holdings at the U.S. Federal Reserve, central bank data showed on Thursday.

Holdings of foreign central banks' Treasuries at the Fed rose to $2.963 trillion on April 1, according to the data. A week ago, the total was $2.899 trillion after a modest decline.

The rebound came in a holiday-shortened week in which the dollar rose for two days then fell the last two. The greenback has climbed since last summer as investors have anticipated a tightening in Fed policy.

Foreign central banks' holdings in corporate bonds and other private U.S. debt fell for a second straight week, by $143 million to $43.5 billion. However, those banks' holdings in agency debt and mortgage-backed securities rose by $386 million to $284.8 billion

[singular_me]

the global GDP is less than $100TN... how can the banks have $2.963 trillion?

$2.899 trillion most of which are derivatives?

[mick silver]

$2.963 trillion