US DATA: Fed Q2 Flow of Funds data show dom nonfinancial debt +4.8%
SAAR, vs +4.5% in Q1. Private debt declined, while federal govt debt
continued to grow rapidly. Household debt contracted in its 9th drop as
home mortgage debt -2-1/4% vs -4-1/4% in Q1 and consumer credit fell.
Household net worth est at $53.5T at end-Q2, down $1.5T. Data on Tsys
purchases shows $2T net issues SAAR, with households buying $980b and
foreign buying $709b. Of the rest, pvt pensions took $263b, GSE’s
$48.3b, and mutual funds $46.8b; foreign banks, MMF’s and dealers were
sellers.