According to new data collected by the OFR, the U.S. repurchase agreement (repo) market averaged about $12.6 trillion in daily exposures in Q3 2025, a number that is about $700 billion larger than ...
Acute pressures in the overnight repo market around the end of the month have been on the market's "radar," and what's more relevant is whether these pressures "abate or persist" in the wake of those ...
The Federal Reserve now plans to buy T-bills more actively as a means of adjusting reserves. This makes sense and aligns with our thinking. Fed officials will allow the MBS roll-off to continue, ...
Our bond market seems unmoved by repeated repo rate cuts in 2025, with the 10-year G-Sec yield settling into a stubborn range. Is this a policy transmission failure—or the market signalling that rates ...