Skip to content
Subscriber Only

Wall Street Banks Gorge on Treasuries and That’s a Warning Sign

  • Primary dealer Treasury holdings are the highest since 2013
  • Australian 10-year yield falls by the most in almost two weeks
Updated on

Wall Street’s biggest banks boosted their Treasury holdings to the highest level in more than two years, and one of them says that’s a warning sign for the market.

The 22 primary dealers including Goldman Sachs Group Inc. and Citigroup Inc. that underwrite the U.S. debt and make a market in the securities held $113.5 billion of Treasuries in the week ended Feb. 10, based on the most recent central bank data. The amount is the most since October 2013.