A much bigger overnight parking spot for Wall Street cash is about to open up, as market participants wait for the U.S. debt-ceiling clash to play out.
He also noted that ahead of the Nov. 3, 2015 debt ceiling expiration date that “balances in the Fed’s collateralized program surged,” rising above their then-average of $90 billion. Now, with a potential government shutdown looming in October without a debt-ceiling deal, investors have begun to focus on a raft of issues that could rattle markets in the year’s final three months.
Demand for the Fed facility on Wednesday touch a new record of $1.28 trillion, according to Fed data.
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