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The number didn’t look dramatic at first glance ($13.5 billion in overnight repos on Dec. 1), but for anyone who watches the Federal Reserve’s plumbing, it was a noticeable spike. These operations rarely break into headlines, yet they drive the liquidity currents that shape everything from bond spre
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The number didn’t look dramatic at first glance ($13.5 billion in overnight repos on Dec. 1), but for anyone who watches the Federal Reserve’s plumbing, it was a noticeable spike. These operations rarely break into headlines, yet they drive the liquidity currents that shape everything from bond spreads to equity appetite to the way Bitcoin […]
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