$105 billion worth of US government bonds taken out of the Fed

$105 billion dollars worth of US government bonds out of the Federal Reserve, according to the latest data from the US central bank.

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 A withdrawal of this scale is unprecedented. It’s important to note that just because these assets were pulled from the Fed doesn't mean that they were actually sold.. Liquid though the US bond market is, if someone dumped more than $100 billion of bonds on it, it would cause a pretty good ripple, which likely would have pushed up government bond yields sharply. Nothing like that has happened over the last week.

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So it’s more likely that these Treasurys were just transferred to another, perhaps more neutral, bank. Maybe just for safe-keeping, until all this unpleasantness blows over. Anyway, there’s plenty of speculation along those lines at the moment.