The Fed withdrew $1 billion from the market on Friday, the third drain this week. They added $3.25 billion in weekend repos against $4.25 billion in expirations. That brought the 5 day net up to a drain of $6.75 billion. The Fed announced a TAF auction for next week involving no new money, just replacing an expiring issue. The Treasury starts next week asking the market for $28 billion in new money. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.