- BrokerTec US Repo average daily notional value (ADNV) increased 29% to $269 billion year-over-year (yoy), also an increase from December’s $257 billion.
- US Treasury ADNV increased 10% to $141 billion yoy, spiking about 45% from December’s $97 billion.
- European Repo ADNV increased 6% to €286 billion ($321.8bn), up from December’s €257 billion.
John Edwards, managing director at BrokerTec, said in an email update: “BrokerTec EU Repo January ADV reached €285.9bn (+6% yoy) as Repo rates returned to their pre-year end levels, after the usual volatility over the year end period, which saw core Euro GC rates as low as -5.00. January saw volumes increase daily as the month progressed reaching a monthly high on 27 January comparative with numbers last seen in October and November 2021. We also saw significant increase in term Repo activity, driven mainly by activity in French GC; on 18 January we saw the highest term business day since 5 October 2017. BrokerTec’s NGEU Bonds on Repo continue to grow and see increased liquidity and activity, especially in specifics, achieving a record ADV on 25 January followed by the second highest ADV on 26 January.”