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Reverse Repo Uptake Nudges Off June Lows

  • RRP usage ticked up $24B today to $2.055T after seeing the lowest since Jun 3 on Friday, and marking the first increase since last Monday.
  • The number of participants was unchanged at 90, the lowest since mid-May.
  • It’s in line with Wrightson ICAP’s estimate that usage could have rebounded by about $25B as overnight funding markets stabilise following the US holiday with Friday’s shortened session seeing some volatility in the repo market, although that was “without much conviction”.

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