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US TSYS/OVERNIGHT REPO: SOFR Softens, Should Tick Up On CMB Settlement

US TSYS/OVERNIGHT REPO

Repo reference rates were little changed Wednesday, with SOFR ticking 1bp lower to 4.56%. Rates are expected to firm up Thursday, amid unusually large bill settlements ($50B cash management bill in addition to the usual bills). Effective Fed Funds remains steady as usual at 4.58%. 

REPO REFERENCE RATES (rate, change from prev. day, volume):

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Repo reference rates were little changed Wednesday, with SOFR ticking 1bp lower to 4.56%. Rates are expected to firm up Thursday, amid unusually large bill settlements ($50B cash management bill in addition to the usual bills). Effective Fed Funds remains steady as usual at 4.58%. 

REPO REFERENCE RATES (rate, change from prev. day, volume):

Keep reading...Show less