Treasury dealers' net bill holdings hit two-year high ahead of October 30 funding pressure

According to the Federal Home Loan Bank of New York's October 23 update, Treasury dealers' net bill holdings reached a two-year high as money funds redirect cash into short-term repo. Overnight SOFR stood at 3.9% for October 22, and FHLBNY flags Canadian bank year-end on October 30 as a forthcoming pressure. Coinbase Institutional reports Bitcoin leverage rebuilding, with perpetual funding rising to 7.2% annualized.