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Dealer Inventory

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Primary dealer net inventory — reflecting market-makers' risk appetite and market depth

Module/Supply
Latest Level$492.4 billion
1-week Change-$6.2 billion
4-week Change+$40.7 billion
13-week Change-$47.6 billion
Historical Percentile97.7%
What To Watch
  • Whether inventory percentile moves into Elevated/Extreme and aligns with weak auction absorption, funding watch, or rising fails.
  • Whether high inventory is ordinary warehousing or closer to constrained balance-sheet behavior.
What Can Mislead
  • High inventory can mean market-making absorption or risk accumulation; cross-check financing and fails.
  • Public dealer data is weekly and aggregate; without live depth, bid-ask, or margin data, avoid high-confidence dysfunction claims.
Data Lineage

Sourced from NY Fed dealer positions; a core signal for absorption and dealer balance-sheet pressure.

Sources: New York Fed Primary Dealer Statistics

Chart
$-36.1B$123.2B$282.5B$441.7B$601.0B2013/042017/082022/012026/06

Sources·New York Fed Primary Dealer Statistics as of 2026-06-17

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