Currency and money market news scan: Trump wants to make it more expensive to sue government.

What We’re Reading.

Executive branch. Lawsuits. Federal Rules of Civil Procedure, Rule 65(c). “Consistent with applicable law, the heads of executive departments and agencies (agencies), in consultation with the Attorney General, are directed to ensure that their respective agencies properly request under Rule 65(c) that Federal district courts require plaintiffs to post security equal to the Federal Government’s potential costs and damages from a wrongly issued injunction.  The scope of this directive covers all lawsuits filed against the Federal Government seeking an injunction where agencies can show expected monetary damages or costs from the requested preliminary relief, unless extraordinary circumstances justify an exception.” — Read more at Executive Office of the President.

Hedge Funds. De-risking. “Global hedge funds accelerated the unwinding of stock positions on Monday, mainly in the industrial sector, as they seek to reduce risk amid a selloff in U.S. stocks, according to Goldman Sachs notes.” —Read more at MSN.

Prop firms. “While many prop trading firms are legitimate, some operate like scams, profiting from traders’ failures instead of their success. The key to spotting a trustworthy prop firm is transparency—legit prop firms have clear rules, fair evaluation processes, and a solid history of paying traders on time and publishing payout proofs. If a prop firm has vague withdrawal policies, restrictive trading rules, or makes unrealistic promises, it’s a red flag.” — Read more at Insider Monkey.

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The Data.

Administered rates per the Board of Governors of the Federal Reserve System.

Discount Window: 4.50%

Effective Federal Funds Rate: 4.33%

Interest on Reserve Balances: 4.40%

Overnight Reverse Repurchase Facility Rate:4.25%

Reference Rates per the Federal Reserve Bank of New York.

Effective Federal Funds Rate:4.33%
Overnight Bank Funding Rate: 4.33%
Secured Overnight Financing Rate:4.33%
Broad General Collateral Rate:4.32%
Tri-Party General Collateral Rate:4.32%

Foreign exchange rates per the Board of Governors of the Federal Reserve System.

EUR/USD=1.0859
USD/JPY=147.1300

U.S. Treasury rates

2-yr notes: 3.94%

10-yr notes: 4.28%

30-yr bonds: 4.59%