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US TSYS/OVERNIGHT REPO: SOFR Ticks Up In Line With Bill Settles

US TSYS/OVERNIGHT REPO

As broadly anticipated, SOFR ticked up Thursday by 1bp to 4.57% - this is likely attributable to unusually large bill settlements (including $50B cash management bill in addition to the usual bills). Secured rates are roughly expected to remain around current levels or slightly higher through most of the rest of the month. Effective Fed Funds remains steady as ever, at 4.58%.

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

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As broadly anticipated, SOFR ticked up Thursday by 1bp to 4.57% - this is likely attributable to unusually large bill settlements (including $50B cash management bill in addition to the usual bills). Secured rates are roughly expected to remain around current levels or slightly higher through most of the rest of the month. Effective Fed Funds remains steady as ever, at 4.58%.

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

Keep reading...Show less