Reddit’s Latest Money-Making Obsession Is an Obscure Fed Facility

Reddit’s Latest Money-Making Obsession Is an Obscure Fed Facility

(Bloomberg) — Every day in the early afternoon, money-market traders are glued to the Federal Reserve Bank of New York’s website to see the results of the overnight reverse-repurchase agreement facility.Most Read from BloombergThey’re not the only ones.A screenshot of this obscure but important facility’s daily usage is religiously uploaded to a Reddit forum called … Read more