November 21, 2024 15:48 GMT
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):
- Secured Overnight Financing Rate (SOFR): 4.56%, -0.01%, $2155B
- Broad General Collateral Rate (BGCR): 4.56%, no change, $790B
- Tri-Party General Collateral Rate (TGCR): 4.56%, no change, $763B
New York Fed EFFR for prior session (rate, chg from prev day):
- Daily Effective Fed Funds Rate: 4.58%, no change, volume: $102B
- Daily Overnight Bank Funding Rate: 4.58%, no change, volume: $277B
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