The Fed cut another $1.5 billion from the liquidity pool on Tuesday with $3.75 billion in overnight repos against expirations of $5.25 billion. $18 billion in new Treasuries settle today and another $1 billion settles Thursday. I had expected to see more Fed pumping to help absorb the new paper, but the market didn’t need it. Click here to download complete report in pdf format (Professional Edition Subscribers).
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