U.S. Treasury rates
The two-year, ten-year, and thirty-year Treasury rates yesterday continued their downward path, according to data from the U.S. Treasury. The two-year rate decreased from 4.13% to 4.07%. The ten-year rate fell from 4.40% to 4.30%, while the 30-year rate fell from 4.66% to 4.55%.
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Board of Governors of the Federal Reserve System
According to data received by the Board of Governors of the Federal Reserve System, the EUR/USD is priced at 1.0455 while the USD/JPY is priced at 149.4900. This data is provided to the Board by its primary dealers and reflects a weakening in the dollar over the past couple of weeks.
Federal Reserve Bank of New York reference rates
According to data posted yesterday by the Federal Reserve Bank of New York, the Effective Federal Funds Rate for domestic unsecured borrowings between commercial depository institutions is at 4.33%. The Overnight Bank Funding Rate, a measure of wholesale, unsecured overnight bank funding costs, also held at 4.33%.
The Secured Overnight Financing Rate, which measures the cost of borrowing cash overnight secured by Treasury securities, came in at 4.34%, while the Broad General Collateral Rate, a measure of rates on overnight Treasury general collateral repurchase agreement transactions, came in at 4.32%.
The Tri-Party General Collateral Rate, a measure of rates on overnight, specific counterparty, tri-party general collateral repurchase agreement transactions, came in at 4.32%.
U.S. Congress
Today, the U.S. House Sub-committee on Capital Markets is holding a hearing entitled, “The Future of American Capital: Strengthening Public and Private Markets by Increasing Investor Access and Facilitating Capital Formation.
HR 146, a bill that prohibits the payment of interest on reserve balances held at a federal reserve bank, is currently with the US House Committee on Financial Services.
HR 692, a bill that requires the United States executive director at the International Monetary Fund, to advocate for increased transparency with respect to exchange rate policies of the People’s Republic of China, is currently with the United States Senate Committee on Foreign Relations.
Alton Drew
25 February 2025
If you are a proprietary trading firm in need of consultation on the legal and regulatory environment, reach out to me at altondrew@altondrew.com to make an appointment. The hourly fee is $175 per hour.
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