The overnight repo market....>

US TSYS/OVERNIGHT REPO: The overnight repo market on Friday -- the year-end

"turn -- saw mildly choppy action, with US Treasury General Collateral rate most

recently at 1.85% after rising to 1.90% vs. a 1.65% rate earlier and a 1.80%

opening. But the MBS rate rose to 2.00%, with Agency at 1.85%.

- Meanwhile the market saw early specials: 5-year note at 0.00%, old 5-year note

at 0.55% and 10-year note at 0.50%; those levels however had changed to -0.25%

5-year note, +0.96% old 5-year note and 0.60% 10-year mote later in the morning.

The 2-year note saw action: most recently cheapened up to 1.00% vs. 0.65%

opening rate.

- The generic T-bill however traded loose at 1.81%; but one-month traded at

1.35%, 3-month at 1.40%, 6-month at 1.25% and 1-year at 1.60%. (More)