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Historical Year Data · 2025

Primary Dealer Net Positions — Agency MBS in 2025

Primary Dealer Net Positions — Agency MBS opened 2025 at 117,028 and closed at 113,763, a -2.79% move for the year. The high of 135,407 was reached on December 10, and the low of 76,896 on September 10.

Open
117,028
2025-01
Close
113,763
53 data points
High
135,407
Dec 10
Low
76,896
Sep 10
Full Year Change
-2.79%
2024 Change
+11.65%

Monthly Breakdown

MonthOpenCloseHighLowChange
Jan117,028112,344117,028103,735-4.00%
Feb107,93194,768107,93194,768-12.20%
Mar103,558115,439115,439103,558+11.47%
Apr119,770128,914128,914119,770+7.63%
May119,557122,561122,561118,676+2.51%
Jun125,191118,545125,191118,545-5.31%
Jul119,364118,967119,364117,134-0.33%
Aug82,10980,88686,08980,886-1.49%
Sep82,95599,10999,10976,896+19.47%
Oct107,595114,161114,161103,923+6.10%
Nov115,644117,476124,324114,996+1.58%
Dec114,448113,763135,407113,763-0.60%

Events During 2025

2025 US Tariff Shock
Stagflation
February – April 2025

The Trump administration imposed reciprocal tariffs averaging 25% on most trading partners in February-April 2025. Markets priced the most aggressive trade policy shift since 1930, with ripple effects across currencies, bond yields, and supply chains.

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Related Metrics

Primary Dealer Net Positions — US Treasuries
2025
Primary Dealer Net Positions — Agency Debt
2025
Primary Dealer Net Positions — Corporate Bonds
2025
Primary Dealer Fails to Deliver — Treasuries
2025
Primary Dealer Fails to Receive — Treasuries
2025
Primary Dealer Total Treasury Fails (Deliver + Receive)
2025

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