US Short-Term Rate Jumps to Year High as Funding Strains Grow
A key interest rate for the US financial system jumped to the highest level this year — exceeding the Federal Reserve’s target range for its own benchmark — as dwindling liquidity is exacerbated by Treasury auction settlements and quarterly corporate tax payments this week.
A key interest rate for the US financial system jumped to the highest level this year — exceeding the Federal Reserve’s target range for its own benchmark — as dwindling liquidity is exacerbated by Treasury auction settlements and quarterly corporate tax payments this week.