The Federal Reserve said Monday it will buy about $10 billion of Treasury bills this period, unchanged from the previous two cycles, as policymakers seek to bolster reserves in anticipation of a drain in the coming months.
The Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Tuesday, June 9, 2026. Senate Republican Leader John Thune urged President Donald Trump to nominate a permanent national intelligence director to expedite congressional renewal of US spy agencies’ broad electronic surveillance authority.
Wall Street strategists expect a group of senior academics and former policymakers assembled by Chairman Kevin Warsh to review the Federal Reserve’s $6.7 trillion balance sheet will face a difficult balancing act: shrinking the central bank’s holdings without destabilizing funding markets.
Wall Street strategists expect a group of senior academics and former policymakers assembled by Chairman Kevin Warsh to review the Federal Reserve’s $6.7 trillion balance sheet will face a difficult balancing act: shrinking the central bank’s holdings without destabilizing funding markets.
US short-term interest-rate markets are seeing a surge of activity thanks to top Wall Street banks peddling divergent views on how an expected increase in the supply of Treasury bills this month is likely to play out.
Federal Reserve Chairman Kevin Warsh reiterated his preference for the US central bank to scale back its bond portfolio, while highlighting that any such step will only be made after extensive public preparation.
The Depository Trust & Clearing Corp., which settles most trades of US securities, said it will complete two days worth of transactions on Tuesday after a significant number of erroneous trades were submitted by a member firm.
A trader looks at a chart during the DPC Holdings Ltd. initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, US, on Thursday, June 25, 2026. Shares of Doncasters Group, a manufacturer of products for aerospace engines and industrial gas turbines, rose 33% in its US debut after it raised $1.06 billion in an upsized initial public offering and pair of private placements. Photographer: Michael Nagle/Bloomberg
US equity financing needs have been building up and risk crowding out capacity in bank dealers’ balance sheets, which in turn could boost short-term interest rates even amid limited quarter-end pressures.
SpaceX signage at the Morgan Stanley headquarters in Times Square during the company's initial public offering (IPO) in New York, US, on Friday, June 12, 2026. SpaceX has made history with the biggest-ever IPO, launching it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world’s first trillionaire.
Federal Reserve Chairman Kevin Warsh said he is appointing a task force to examine the central bank’s $6.7 trillion balance sheet, a first step in addressing a policy issue he has long criticized.
The Federal Reserve said Thursday it will buy about $10 billion of Treasury bills this period, unchanged from the previous cycle, as policymakers seek to bolster reserves in anticipation of a liquidity drain in the coming months.
The Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Tuesday, Dec. 31, 2024. Banking and business groups sued the Federal Reserve over the central bank's annual stress tests, saying they're seeking more transparency and input into how the rules are adopted. Photographer: Samuel Corum/Bloomberg
An abundance of cash in US funding markets appears to be driven by deeper structural shifts that are unlocking billions of dollars in balance-sheet capacity at the biggest banks, Wall Street strategists say.
Federal Reserve Bank of New York’s Roberto Perli said the central bank’s monthly Treasury bill purchases are not on a pre-determined course and can be adjusted depending on market conditions.
Roberto Perli, manager of the System Open Market Account (SOMA) for the Federal Reserve Bank of New York, speaks during the National Association of Business Economics (NABE) economic policy conference in Dallas, Texas, US, on Tuesday, Oct. 10, 2023. The theme of event is Beyond the Business Cycle: Adapting to a New Global Paradigm. Photographer: Nitashia Johnson/Bloomberg
Federal Reserve Bank of New York’s Roberto Perli said the central bank’s monthly Treasury bill purchases are not on a pre-determined course and can be adjusted depending on market conditions.
Roberto Perli, manager of the System Open Market Account (SOMA) for the Federal Reserve Bank of New York, speaks during the National Association of Business Economics (NABE) economic policy conference in Dallas, Texas, US, on Tuesday, Oct. 10, 2023. The theme of event is Beyond the Business Cycle: Adapting to a New Global Paradigm. Photographer: Nitashia Johnson/Bloomberg
Apollo Global Management Inc.’s insurance arm was the third-largest borrower at the end of March in the Federal Home Loan Bank system, further increasing its holdings since the end of last year.
CME Group Inc. on Wednesday launched a new benchmark rate tied to overnight funding costs in the US, adding to its suite of global risk-free rates.
CME Group headquarters in Chicago, Illinois, U.S., on Friday Feb. 5, 2021. CME Group Inc. is scheduled to release earnings figures on February 10. Photographer: Christopher Dilts/Bloomberg
Traders notched up record volumes in one narrow corner of the US interest-rate futures market this week, betting on a spread that reflects potential swings in overnight lending markets.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, April 20, 2026. A rally in oil drove stocks lower as a turbulent weekend in the Middle East cast doubt on prospects for peace talks between the US and Iran before their fragile ceasefire deal expires.
Kevin Warsh will get his first major public platform as Federal Reserve Chair nominee next week to address his longstanding concerns over the central bank’s outsized market footprint.
Kevin Warsh, former governor of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, DC, US, on Friday, April 25, 2025. The International Monetary Fund sharply lowered its forecasts for world growth for this year and next, warning the outlook could deteriorate further as US President Donald Trump's tariffs spark a global trade war. Photographer: Tierney L. Cross/Bloomberg
Tax‑day inflows jolted the US Treasury’s cash balance on Wednesday, lifting it by the most since September, a shift that briefly pulled liquidity out of the financial system even as pressures remained contained.
Wall Street strategists expect a robust increase in the Treasury’s coffers this week as Americans pay their taxes, potentially putting pressure on relatively calm US funding markets and spurring institutions to bolster their cash holdings.
The US Treasury building in Washington, DC, US, on Tuesday, Dec. 31, 2024. The US Treasury Department was hacked by a Chinese state-sponsored actor through a third-party software service provider, according to a letter the agency sent to Congress on Monday.
The Federal Reserve said Monday it will buy about $25 billion of Treasury bills each month, a greater wind down than anticipated of a program that was meant to ease short-term funding costs by rebuilding reserves in the financial system.
The Marriner S. Eccles Federal Reserve building in Washington.
Fixed‑income markets are overestimating the impact of potential changes to the Federal Reserve’s balance‑sheet policy, which are likely to be slow and limited, according to Canadian Imperial Bank of Commerce.
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