PLN: EURPLN Spikes Above Initial Resistance Following Surprise Rate Cut
* Policy statement to be published at 15:15BST/16:15CEST. * EURPLN spikes on the surprise rate cut -...
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MNI: US MAY FINAL MANUFACTURING PMI 52.0 (52.3 FLASH; 50.2 APRIL)
- US MAY FINAL MANUFACTURING PMI 52.0 (52.3 FLASH; 50.2 APRIL)
SOFR OPTIONS: Large outright Call buyer
SFRM5 96.62c bought for 0.25 in 30k.
US TSYS/OVERNIGHT REPO: SOFR Ticks Up, Month-End Pressures To Spill Over Monday
Secured rates picked up again Friday, with SOFR up 2bp to 4.35%. That's the highest since the start of the month, with the rise at both ends of May reflecting month-end dynamics. Upside pressure is expected to persist Monday before subsiding over the rest of the week.
- Fed funds were unchanged as usual.
REPO REFERENCE RATES (rate, change from prev. day, volume):
* Secured Overnight Financing Rate (SOFR): 4.35%, 0.02%, $2641B
* Broad General Collateral Rate (BGCR): 4.34%, 0.02%, $1049B
* Tri-Party General Collateral Rate (TGCR): 4.34%, 0.02%, $1013Bd
New York Fed EFFR for prior session (rate, chg from prev day):
* Daily Effective Fed Funds Rate: 4.33%, no change, volume: $105B
* Daily Overnight Bank Funding Rate: 4.33%, no change, volume: $228B
