NY Fed reverse repo usage currently 1,865.287B w/ 86 counterparties vs. prior session's 1,900.069B (all-time high of $1,906.802B on Friday, March 29, 2022).
NY Federal Reserve/MNI
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Tys pared gains, bouncing back near midday highs after $20B 30Y auction re-open (912810TD0), Bond sale tails slightly: 2.815% high yield vs. 2.804% WI; 2.30x bid-to-cover vs. 2.46x last month.
EURUSD is inching towards key support and the bear trigger at 1.0806, the Mar 7 low. The pair remains bearish. The recent failure at 1.1185, Mar 31 high, continues to highlight a bearish threat and last week’s move lower has reinforced this theme. A break of 1.0806 would confirm a resumption of the downtrend and open 1.0767, the May 7 2020 low. Clearance of 1.1185 is needed to highlight a base and reinstate a bull theme.