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Fannie Raises $7 Billion in Largest Single Debt Sale

user profile picture Chris Martenson Sep 11, 2008
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Say, that sounds pretty favorable.  "Largest single debt sale."  And
there’s more good news, because they got a pretty good price – the best
since June according to the article.

But wait, what’s this?

Asian investors bought 12 percent of the latest two-year debt issue, as European investors purchased 8 percent, down from 39 percent and 17 percent in the July sale, according to company data. Central banks bought 27 percent, down from 57 percent. The company yesterday failed to say how much debt it planned to raise in announcing the sale, a break from its typical practice.

 

So central banks slipped from buying half of the GSE debt offerings of past sales to just a quarter?  Hold on here…who bought the rest?  I have a sneaking suspicion that the US government just purchased its first lot of ‘taxpayer specials.’