- Fed Injects $79BN In Liquidity: Term Repo Most Oversubscribed Since Repo Crisis
by Tyler Durden, https://www.zerohedge.com/
The repo market was supposed to be fixed in September; then the year-end liquidity flood was supposed to definitely fix the repo market. But it is now mid-February and moments ago the Fed just reported it conducted the fourth oversubscribed term-repo operation as the liquidity shortage among dealers appears to persist.
This means, that at a submitted to accepted ratio just shy of 2.0x, this was tied for the most oversusbcribed term repo operation since the September repo crisis as there clearly remains a big hole in dealer liquidity.