US Treasury Bonds Sold but Not Delivered

by Susanne Trimbath 11/25/2008
Image: 
trimbphantombonds.png
Notes: 
For the last couple of months trillions of dollars worth of US Treasury bonds have been sold but undelivered, as trades have gone unsettled, an event so common that the industry has an acronym for it: FTD, or fail to deliver.
Source: 
US Treasury Securities, Federal Reserve Bank of New York Primary Dealers only
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