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Scott Skyrm, repo trader at..........>

US TSY FUTURES
US TSY FUTURES: Scott Skyrm, repo trader at Wedbush Secs, said on CME cash
levels that "it's been about six weeks since the Fed hiked rates on June 14. As
we already know, the CME only raised the rate they pay on cash deposits to
1.00%, instead of the expected 1.05%."
- He said that "initially, I expected the relatively lower investment rate would
mean FCMs would move some of their cash margin deposits out of the CME. But six
weeks later, there is no significant change in volume, which means, for small
rate changes, the CME cash margin deposits are not very rate sensitive."

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