The Eccles Building Fools Strike Again! Repo “Crisis” Ends With A Whimper Amid Massive Liquidity Glut

…. the Turn repo rate dropped another 75 basis points from 2.75% down to 2.00%, confirming that dealers had lost all fears of a year-end funding squeeze. This happened after only $8.3 billion showed up for the 15 day term operation out of a possible $35 billion On Monday.