Market Value of Privately Held Gross Federal Debt
MVPHGFD027MNFRBDAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,202.80
Year-over-Year Change
7.97%
Date Range
4/1/1942 - 7/1/2025
Summary
The Market Value of Privately Held Gross Federal Debt measures the total value of outstanding U.S. government debt held by private investors. This metric is closely watched by economists and policymakers as an indicator of market confidence in U.S. fiscal policy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the market value of U.S. Treasury securities, agency debt, and other debt instruments that are part of the federal government's total gross debt but are held by private investors rather than intragovernmental accounts. It provides insight into how financial markets view the creditworthiness of U.S. government debt.
Methodology
The data is calculated based on information from the Federal Reserve's Flow of Funds accounts.
Historical Context
The market value of federal debt is a key input for analyses of U.S. fiscal sustainability and the government's borrowing capacity.
Key Facts
- The market value of privately held federal debt was $22.3 trillion as of Q4 2022.
- This metric has increased by over 200% since the 2008 financial crisis.
- The ratio of privately held federal debt to GDP was 97% as of Q4 2022.
FAQs
Q: What does this economic trend measure?
A: The Market Value of Privately Held Gross Federal Debt measures the total value of outstanding U.S. government debt that is held by private investors, as opposed to intragovernmental accounts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into how financial markets view the creditworthiness and sustainability of U.S. government debt, which is a key input for analyses of fiscal policy and the government's borrowing capacity.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve based on information from the Flow of Funds accounts.
Q: How is this trend used in economic policy?
A: The market value of federal debt is closely monitored by policymakers and economists as an indicator of market confidence in U.S. fiscal policy and the government's ability to service its debt obligations.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
Related Trends
Federal Debt Held by Agencies and Trusts as Percent of Gross Domestic Product
HBATGDQ188S
Federal Debt Held by the Public
FYGFDPUN
Gross Federal Debt Held by the Public as Percent of Gross Domestic Product
FYPUGDA188S
Gross Federal Debt as Percent of Gross Domestic Product
GFDGDPA188S
Federal Debt Held by Federal Reserve Banks as Percent of Gross Domestic Product
HBFRGDQ188S
Federal Debt Held by Federal Reserve Banks
FDHBFRBN
Citation
U.S. Federal Reserve, Market Value of Privately Held Gross Federal Debt (MVPHGFD027MNFRBDAL), retrieved from FRED.