It’s Baaack! $99 Billion Repo Surge Means Fed’s Rate Peg Ain’t The Market’s Command


But wait there’s more: today’s oversubscribed term repo, coupled with yesterday’s overnight repo surge and this morning’s $63.919BN overnight repo…… means the Fed just injected a total of $99BN to keep the levitation party going, and confirms that the repo market remains paralyzed.