US federal funds rate market trading volume rises to highest level since July 2023
Trading volume in the U.S. federal funds rate market climbed to its highest level in about a year and a half on Monday, suggesting that the Federal Home Loan Bank (FHLB) is lending excess dollars in the market, Internet reported. According to data released by the New York Fed on Tuesday, as of December 23, trading volume in the federal funds rate market rose to US$119 billion, the highest level since July 2023, compared with US$113 billion in the previous trading day.
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