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The overnight repo market....>

US TSYS/OVERNIGHT REPO
US TSYS/OVERNIGHT REPO: The overnight repo market on Thursday saw the U.S.
Treasury 5-year note trade super-tight to a negative -3.50%
rate. The 5-year note traded at -3.50% Thursday, vs. -1.50% Tuesday vs. -3.00%
Monday, said traders, which occurred amid auction- and curve-tied shorts. "There
are the same amount of shorts as it's been," said one
trader. "It's month-end. Everybody pulled back their supply."
- Meanwhile the 2-year note and 7-7year notes loosened up amid 2/5/7Y auction
settlement. The Treasury General Collateral rate meanwhile traded at 1.12%.
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