NY Fed RRP op demand at 0.88bln (prev. 1.20bln) across 8 counterparties (prev. 5) on March 4th
Newsquawk Staff ·
NY Fed RRP op demand at 0.88bln (prev. 1.20bln) across 8 counterparties (prev. 5) on March 4th.
What it means
The drop in demand for the NY Fed's Reverse Repurchase Agreement (RRP) to $0.88 billion from the previous $1.20 billion suggests a reduced appetite for safe-haven liquidity among counterparties. This decline could indicate a shift in market conditions or a normalization of liquidity needs, impacting short-term rates and potentially influencing the USD's strength in FX markets.
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