They are going to add a lot of Reserves to Depositories next week:
Treasury Secretary Steven Mnuchin said he’s working closely with Fed Chairman Powell to make sure there are ample reserves following funding strains in money markets in September, which he attributed in part to bank liquidity rules.https://t.co/xA76QhGFvV
— Kate Davidson (@KateDavidson) December 5, 2019
Treasury ops adding about 38B Tues+Thurs and Fed adding another 25B via new operation Monday... 20B social security Weds... maybe 75Bish total... then it will all quickly reverse with qtrly taxes due on Monday the 16th... might bring total Reserves at Depositories closer to 1.7T by end of week...