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Fed Reverse Repo Facility Nears $1 Trillion In Use, Debt Ceiling Deadline Complicating Treasury Markets

There has been some anomalous behavior in treasury markets lately, perhaps best exemplified by the record set Wednesday when a total of $992 billion was parked in the Fed’s Reverse Repo facility where counterparties like large MMFs and other big market participants can park their cash with the US Central Bank. On Thursday, the reverse repo volumes inched off their successive highs on Tuesday and Wednesday and fell to around $742.6 billion on Thursday and $731.5 billion today.

While the Reverse ...

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