Fed Funds Prints 2.30%, Breaching Target Range For The First Time, As Libor Replacement Soars To "Remarkable" 5.25%
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Fed Funds Prints 2.30%, Breaching Target Range For The First Time, As Libor Replacement Soars To "Remarkable" 5.25%

If today's second consecutive repo was supposed to calm the stress in the secured lending market and ease the funding shortfall in the interbank market, it appears to have failed. Not only did O/N general collateral print at 2.25-2.60% after the repo operation, confirming that repo rates remain inexplicably elevated even though everyone who had funding needs...

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