Repo
Definition · Level 7 · Futures, rates & macro
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Repurchase agreement: sell a security and agree to buy it back later at a slightly higher price; economically a short-term loan secured by that security.
Example
Dealers finance Treasury inventory overnight this way.
Where Tradecraft teaches it
Level 7 · Futures, rates & macro, in the lesson “The Fed, policy rates & the curve”: Fed funds, FOMC, dots, hawks and doves, QE/QT, repo and SOFR, real yields, and reading the yield curve.
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