November 22, 2024 16:22 GMT
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):
- Secured Overnight Financing Rate (SOFR): 4.57%, 0.01%, $2291B
- Broad General Collateral Rate (BGCR): 4.56%, no change, $798B
- Tri-Party General Collateral Rate (TGCR): 4.56%, no change, $771B
New York Fed EFFR for prior session (rate, chg from prev day):
- Daily Effective Fed Funds Rate: 4.58%, no change, volume: $101B
- Daily Overnight Bank Funding Rate: 4.58%, no change, volume: $281B
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