The Fed drained a net of $2.75 billion from the market on Tuesday by adding $9.25 billion in 2 day repos against $12 billion in expirations. Meanwhile the Treasury raised $11 billion in new cash at today’s 4 week bill auction. T-bill rates shot higher as a result. 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.
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