​ Fed Liquidity Flood Pushes Money Market and CP Rates Back on Target. The Federal Reserve injected three rounds and over $​35 billion in liquidity into the money markets today in an attempt to push the Federal funds rate down to its target 5.​25%. Fed funds were trading around 5.​5% this morning, and still remain above target. Yesterday, CP rates traded up as high as 6.​01% for A2/​P2 non-​financial CP and 5.​52% for AA nonfinancial CP. (​See Federal Reserve CP page.)

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