The Fed opened the pump stations full blast on Tuesday, jamming $12.50 billion in overnight repos into the market against no expirations for a huge net add. It’s notable that it took such a huge add today to keep the stop out rate on the repos near the Fed Funds target of 4.75%. Maybe things are beginning to tighten up again as a result of the expected return of the ABCP problem. 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.