RRP volume approaches zero, signaling market’s urgent need for liquidity that was in the RRP to fund Treasury supply.

#recession … #Global $USD #Liquidity Squeeze edition t.co/33Ts5hbVHb pic.twitter.com/pc9KFHqddF

— Invariant Perspective (@InvariantPersp1) October 31, 2024

It's end of month and we should be seeing more cash piling up on the sidelines (sometimes referred to as window dressing) but instead RRPs have plunged this week, down $50 billion to just $201 – why is no one paying attention to the warning signs in the repo market? pic.twitter.com/8S1Et3SPD2

— E.J. Antoni, Ph.D. (@RealEJAntoni) October 31, 2024