
Funding tensions have intensified, with U.S. short-term interest rates rising to a year-to-date high, breaking through the target range for policy rates ahead of the Federal Reserve's September FOMC meeting
According to data from the Federal Reserve Bank of New York, the secured overnight financing rate was reported at 4.51% on the last trading day, up from 4.42% the previous day. The effective federal funds rate was reported at 4.33% on the last trading day, unchanged from 4.33% the previous day
