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RRP Uptake Little Changed Despite Surging T-Bill Supply

FED
  • RRP uptake was near unchanged today at $2,127B (-$1B), down from a most recent high of $2,255B with month-end and debt limit factors on May 31 before settling into a relatively tight range of $2,127B-2,162B since then.
  • The deluge of T-bill supply post debt ceiling deal doesn't for now appear to be drawing significant funds away from RRP operations.
  • The number of counterparties ticked up to 106 (+4) although that’s only to its highest since Wednesday.

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