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RRP Counterparties Lowest Since Nov 2022

FED
  • RRP usage ticked up $6B to $873B today, further consolidation of Friday’s sizeable $66B decline to $866B, to what was the lowest since Jul'21.
  • The number of counterparties fell further to 91, its lowest since mid-Nov'22.
  • It comes increased demand at recent bill auctions with bid-to-covers pushing higher (see here).

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