Note on yesterday's $300bln Repo (of which there was $407bln submitted):
There were 102 bids submitted and 81 bids accepted in today's operation. Bids submitted at the stopout rate were awarded approximately 83% of the amount submitted.
today at 8:30 am when the Fed announced the result of today's "special" window-dressing Reverse Repo operation. What was unveiled blew our socks right off, because not only was the Reverse Repo an absolutely whopping $407 billion, but the low rate on the auction was an unprecedented -0.20%!
What this means is that today's offering was done at a rate below the fixed rate of 5 bps, and thus today the floor aspect of the ON RRP program was not effective. This will probably be the situation at most future quarter-end offerings.
Submitted: 407.167 Billion
Accepted: 300.000 Billion- because of cap.
dc CB 19:00:19 GMT - 09/29/2014
:)
dc CB 18:58:10 GMT - 09/29/2014
"our prices are innnnnsaaaaane" Crazy Eddie
Camera on a Stick
dc CB 18:56:01 GMT - 09/29/2014
nh
the June 30 repo was 360bln. the FED has capped it at 300bln?
tom will be interesting esp with it done early
Livingston nh 18:18:30 GMT - 09/29/2014
CB- Fed's jerking the market around w/ it's cap -- neg T-bills/ wait until you see what happens when the market gets serious -- I've seen this play b4
dc CB 17:36:05 GMT - 09/29/2014
today's done 194.566 billion $
remember Special for tomorrow end of quarter WindowDress Day the Repo will be done Before the market opens instead of at 1PM
"Regarding the operation to be conducted on Tuesday, September 30, 2014, the Desk will conduct the operation several hours earlier than usual, from 8:00 to 8:30 a.m. (Eastern Time). All other terms of the exercise will remain the same."
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