Yes, it is one day after Fed officials boosted the rate on its overnight reverse repurchase agreement facility by 5 basis points to 0.05% and decided to lift the interest paid on excess reserves by 5 basis points to 0.15%.
The result? Reverse Repos soared.
And the 5Y30Y Treasury curve declined.
Long-term inflation breakeven rates declined.
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See also Statement by Secretary of the Treasury Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell: