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RRP Uptake Lifts On Month/Qrtr End Flow But Dwarfed By Prior Highs

FED
  • Reverse repo operation usage lifted $100B to $2034B today, although to a small level by month/quarter-end standards as plentiful T-bill supply has helped steadily whittle RRP volumes down.
  • It compares with the $2375B from Mar 31 and the high of $2554B from Dec 30.
  • The number of counterparties was unsurprisingly at the high end of its recent range at 109.

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