BREAKING: The Fed's balance sheet rose +$42 billion in February, to $6.63 trillion, the 2nd-highest since August. Since the Reserve Management Purchases (RMPs) began in December, total assets have risen +$93 billion. Under this program, the Fed is buying ~$40 billion in Treasury bills per month, a pace set to continue until mid-April. T-bill holdings jumped +$55 billion last month, to a record $344 billion. Meanwhile, MBS holdings fell -$13 billion in February, to $2.01 trillion, now down -27% from their peak, or -$730 billion. The Fed's balance sheet continues to expand.(The Kobeissi Letter)