Fed funds opened at 0.06% as the month comes to a close Fed funds opened at 0.06% as the month comes to a close. Yesterday's rate ranged from 0.05% to 0.3125% with a 0.09% effective. Look for an increase in volatility on month-end. The current 3-year note trades with the lowest rate in the repo market at -0.60% following this week's supply.
Oil Action: NYMEX crude is down 67 cents Oil Action: NYMEX crude is down 67 cents at $99.60/bbl, as OPEC production and the dollar strengthens, and as U.S. demand remains relatively soft. The contract sound support ahead of $99.00, before rallying to current levels. Sources expect fund offers to materialize into the $100 mark.