Explainer: U.S. repo market flirts with negative rates as Fed seeks to absorb excess cash
FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, U.S., May 1, 2020. REUTERS/Kevin Lamarque/File Photo April 16, 2021 By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Excess cash in the financial system has pressured overnight interest rates, in some instances pushing them negative, which, analysts said, could prompt the Federal …