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US TSYS/OVERNIGHT REPO: Repo Rates Set To Pick Up Slightly Early This Week

US TSYS/OVERNIGHT REPO
USBulletMarketsFixed Income BulletsNorth America

Repo reference rates softened slightly overall on Friday Feb 14, the most recent session for which we have data owing to Monday's holiday.

  • While SOFR was unchanged at 4.33%, BGCR and TGCR saw 1bp dips to 4.31% each.
  • Secured rates are seen picking up moderately this week, particularly today as it marks the month's Treasury refunding auctions settlement.
  • Though of course, the main pressure is expected to come at end-month as usual, especially given unusually large auction settlements at the end of the month.
  • Effective Fed funds as usual was unchanged at 4.33%.

REPO REFERENCE RATES (rate, change from prev. day, volume):
* Secured Overnight Financing Rate (SOFR): 4.33%, no change, $2319B
* Broad General Collateral Rate (BGCR): 4.31%, -0.01%, $932B
* Tri-Party General Collateral Rate (TGCR): 4.31%, -0.01%, $913B

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Repo reference rates softened slightly overall on Friday Feb 14, the most recent session for which we have data owing to Monday's holiday.

  • While SOFR was unchanged at 4.33%, BGCR and TGCR saw 1bp dips to 4.31% each.
  • Secured rates are seen picking up moderately this week, particularly today as it marks the month's Treasury refunding auctions settlement.
  • Though of course, the main pressure is expected to come at end-month as usual, especially given unusually large auction settlements at the end of the month.
  • Effective Fed funds as usual was unchanged at 4.33%.

REPO REFERENCE RATES (rate, change from prev. day, volume):
* Secured Overnight Financing Rate (SOFR): 4.33%, no change, $2319B
* Broad General Collateral Rate (BGCR): 4.31%, -0.01%, $932B
* Tri-Party General Collateral Rate (TGCR): 4.31%, -0.01%, $913B

Keep reading...Show less