U.S. Repo Market Tracker. October 25, 2019

Summary

Repo Rates: Rates stabilize as average daily intervention inches up to $84bn during the week. Fed recalibrates intervention: daily up to $120bn from $75bn and term up to $45bn from $35bn.

Key points

• Key points:
• Fed Balance Sheet: Fed fulfilled bill purchases of $23bn and set to match it next week; balance and total assets remained constant
• U.S. Treasury: Net issuance rebounds while Fed implements large-scale reserve management operations
• Financial Markets: Markets remain concerned with global weakness

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