On October 23rd, demand for the Federal Reserve's overnight reverse repos fell to their lowest level in nearly three and a half years on Tuesday. About 60 participants deposited about $238 billion at the Fed through overnight reverse repos, the lowest level since May 2021, according to data from the New York Fed. The amount in the previous session was $261 billion.
The market expects that the CPI is expected to hit the lowest level since March 2021 tonight, continuing to cool to 2.6% after returning to the "2 prefix" last month. Click to view more expectations > >
The two oil prices fell to their lowest levels since June last year, and are now trading at $67.81/barrel and $71.58/barrel, respectively.