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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FED
- RRP uptake increased $54B today to $2.255T, its highest since May 23.
- The number of counterparties remained elevated at 107.
- Wells Fargo estimate balances could drop to $1.5T by year-end once the Treasury begins rebuilding its cash account at the Fed.
- They note that the replenishment of the Treasury General Account combined with continued quantitative tightening should drain about $1.1T of excess liquidity (defined as RRP plus bank reserves) through year-end.
- Bank reserves are expected to drop from $3.25T to $2.75T whilst they estimate $600B of RRP cash could move to T-bills through year-end.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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