Fed dominated MMF repo trades in March
FICC and BNP Paribas among other top repo counterparties
US money market funds ploughed $1.58 trillion of cash into repo markets on March 31, the highest month-end total for at least nine years.
MMFs invested $1.05 trillion in US Treasury repo at quarter-end, up 34% on end-February, $475.9 billion in US agency bond repo, down 5% and $48 billion in other repo, down 26%.
Funds conducted $284.9 billion of trades with the Federal Reserve for Treasuries on
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