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RRP Uptake Unchanged From Friday Despite Estimated GSE Withdrawal

FED
  • Reverse repo operation usage held exactly the same as Friday at $1771B with an unchanged 99 counterparties.
  • Some had been looking for a continued step lower as cash from GSEs exited funding markets and with further heavy T-bill supply, although that could continue to emerge over the next couple days.
  • As it is, usage continues to see a clear trend decline despite being $54B off the Jul 18 low of $1717B.

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