NY Fed RRP op demand at 0.33bln (prev. 2.11bln) across 3 counterparties (prev. 9) on April 2nd

The significant drop in NY Fed Reverse Repo Program (RRP) demand from 2.11 billion to 0.33 billion indicates a notable reduction in liquidity preference among participating banks. With demand falling across fewer counterparties, this may reflect a shift in market conditions or a tightening in cash availability, potentially impacting funding rates and overall fixed-income sentiment.