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7/30, 7:53 PM (Source: TeleTrader)
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Fed reverse repos reaches record of over $1 trillion

Volume in the United States Federal Reserve's reverse repurchase operation reached a new record high on Friday of $1.039 trillion.

The daily operation included 86 bidders, according to data from the New York Fed.

The Fed's asset purchases coupled with the Treasury's reduction of its balance sheet ahead of the July 31 reinstatement of the debt ceiling are among the major contributors to the current liquidity glut in the US financial system.

Breaking the News / JC