Federal Reserve owns over 50% of 10-to-15-year bonds

The Federal Reserve holds more than 50% of all bonds maturing between 10 and 15 years from now. Analysis from Academy Securities highlights the impact of Treasury operations on the yield curve and market stability.

U.S. government debt currently includes $7.5 trillion in outstanding T-bills and $21.7 trillion in coupon debt. Recent efforts by Treasury Secretary Bessent to drive bond yields lower involve weekly operations of at least $4 billion. While these actions have influenced gold prices and the dollar, they are characterized as rearranging existing debt rather than quantitative easing (QE) or new money creation.