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Reverse Repo Continues Trend Decline

FED
  • RRP usage falls again to $1854B (-$13B) as it extends yesterday’s -$43B and Monday’s -$125B after the sharp pullback from month/quarter-end factors.
  • It’s the lowest since mid-May’22 as the surge in T-bill issuance continues to help cut balances.
  • Number of counterparties dips back to 101 (-1).

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