Sovereign
@sovereign
Big moves yesterday: the Fed’s Overnight Reverse Repo balances jumped over 90% (≈ +$150 B) while the Treasury General Account rose over 18% (≈ +$83 B)—together pulling more than $233 billion of cash out of active circulation. Meanwhile, money-market funds sit at an all-time high of $7.24 trillion, underscoring how deeply risk-off sentiment is right now. There’s so much liquidity parked on the sidelines just waiting to go risk-on.
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