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Fed opens overnight repo spigot as Wall Street stares down barrel of U.S. debt-ceiling fight

·2 min read
Fed opens overnight repo spigot as Wall Street stares down barrel of U.S. debt-ceiling fight

Demand for the Federal Reserve's overnight reverse repo facility touched a new record of $1.28 trillion on Wednesday, a day before caps for each counterparty will be doubled to $160 billion a day.