The Fed pulled $5.25 billion out of the liquidity pool on Thursday, issuing $3 billion in overnight repos and $16 billion in 14 day repos, against $24.25 billion in expirations. The $16 billion is the biggest 14 day repo in memory, and is probably a down payment on the holiday pumping party that normally begins Thanksgiving week and lasts until New Year’s Eve. Click here to download complete report in pdf format (Professional Edition Subscribers).
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