FYI.

Regarding the federal funds effective rate (FFER), overnight reverse repurchase (ORR) agreements, Treasury bills, and US net liquidity.

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Discussion

It seems counter intuitive, why is owning a 1 day contract negative to liquidity and a 30 day contract positive to liquidity. Seems like it should be the opposite. Thanks in advance!

so did we just get mmf flipping to t-bills?

Super interesting, thanks for the share!