FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US TSYS: Repo/EFFR Rate Run: SOFR Set To Tick Up After Lull Last Week

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America

Repo and effective Fed funds rates were little changed Friday (no data released Monday due to holiday). For Tuesday, SOFR is set to pick up 2bp to 4.83% due to "the settlement of the Treasury’s mid-month coupon auctions along with the regular Tuesday bill issues", per Wrightson ICAP - though on Wednesday they should subside again. 

  • Wrightson ICAP also believe that due to Treasury coupon settlements (3-/10-30Y Tsy auctions), demand for overnight financing will ramp up today, meaning ON RRP takeup will fall below $300B today (was $331.7B prior), which would mark the first time that's happened since Sept 17.

REPO REFERENCE RATES (rate, change from prev. day, volume - for Oct 11)

Keep reading...Show less
167 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Repo and effective Fed funds rates were little changed Friday (no data released Monday due to holiday). For Tuesday, SOFR is set to pick up 2bp to 4.83% due to "the settlement of the Treasury’s mid-month coupon auctions along with the regular Tuesday bill issues", per Wrightson ICAP - though on Wednesday they should subside again. 

  • Wrightson ICAP also believe that due to Treasury coupon settlements (3-/10-30Y Tsy auctions), demand for overnight financing will ramp up today, meaning ON RRP takeup will fall below $300B today (was $331.7B prior), which would mark the first time that's happened since Sept 17.

REPO REFERENCE RATES (rate, change from prev. day, volume - for Oct 11)

Keep reading...Show less